US Unemployment Rate Steady at 5.3% in July


Jobless rate in the US was unchanged at 5.3 percent and total nonfarm payroll employment increased by 215,000 in July. Job gains occurred in retail trade, health care, professional and technical services, and financial activities.

In July, both the unemployment rate (5.3 percent) and the number of unemployed persons (8.3 million) were unchanged. Over the year, the unemployment rate and the number of unemployed persons were down by 0.9 percentage point and 1.4 million, respectively. 

Among the major worker groups, the unemployment rate for teenagers declined to 16.2 percent in July. The rates for adult men (4.8 percent), adult women (4.9 percent), whites (4.6 percent), blacks (9.1 percent), Asians (4.0 percent), and Hispanics (6.8 percent) showed little or no change. 

Among the unemployed, the number of new entrants decreased by 107,000 in July. New entrants are unemployed persons who never previously worked. 

In July, the number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 2.2 million. These individuals accounted for 26.9 percent of the unemployed. Over the past 12 months, the number of long-term unemployed is down by 986,000. 

The civilian labor force participation rate was unchanged at 62.6 percent in July, after declining by 0.3 percentage point in June. The employment-population ratio, at 59.3 percent, was also unchanged in July and has shown little movement thus far this year. 

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in July at 6.3 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job. 

In July, 1.9 million persons were marginally attached to the labor force, down by 251,000 from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. 

Among the marginally attached, there were 668,000 discouraged workers in July, little changed from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.3 million persons marginally attached to the labor force in July had not searched for work for reasons such as school attendance or family responsibilities. 

US Unemployment Rate Steady at 5.3% in July


BLS | joana.ferreira@tradingeconomics.com
8/7/2015 1:33:56 PM