July 2021 Jobs Report
Unemployment Rate: 5.4 percent
Jobs Created: 943,000
Employment and Unemployment
The Department of Labor reported the unemployment rate decreased 0.5 percentage point to 5.4 in July.
Nonfarm jobs increased by 943,000 in July, including sizeable job gains in leisure and hospitality.
In May and June, job gains were higher on net than first reported. The department revised the change in nonfarm jobs for those months up by a combined 119,000 jobs.
The U-6 unemployment rate, a broader measure that includes part-time and discouraged workers, decreased 0.6 percentage point to 9.2% in July.
Labor Force Participation
The labor force participation rate, the share of people employed or looking for work, ticked up 0.1 percentage point to 61.7%. It remains 1.6 percentage points below the level in February 2020.
In July, average hourly earnings for all employees in private nonfarm jobs increased by $0.11 to $30.54.
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