Employment Rises by 163,000 in July
Total nonfarm payroll employment rose by 163,000 in July, and the unemployment rate was essentially unchanged at 8.3 percent, the U.S. Bureau of Labor Statistics reported.
Both the number of unemployed persons (12.8 million) and the unemployment rate (8.3 percent) were essentially unchanged in July. Both measures have shown little movement thus far in 2012. Among the major worker groups, the unemployment rate for Hispanics (10.3 percent) edged down in July, while the rates for adult men (7.7 percent), adult women (7.5 percent),teenagers (23.8 percent), whites (7.4 percent), and blacks (14.1 percent) showed little or no change. The jobless rate for Asians was 6.2 percent in July (not seasonally adjusted), little changed from a year earlier. In July, the number of long-term unemployed (those jobless for 27 weeks and over) was little changed at 5.2 million. These individuals accounted for 40.7 percent of the unemployed. Both the civilian labor force participation rate, at 63.7 percent, and the employment- population ratio, at 58.4 percent, changed little in July.
8/3/2012 1:46:14 PM