Employers added 117,000 jobs in July and the unemployment rate barely ticked down to 9.1 percent, the Bureau of Labor Statistics said today.
It is the tenth consecutive month that employment has risen, but growth over those past ten months has been anemic at best; the reason for the unemployment rate ticking down is likely due to people leaving the workforce.
The WSJ liveblogged the jobs report (yes, really) and found an analyst to say this: “These numbers are not great in absolute terms – employment growth has slowed markedly in recent months, after all – but they are a long way from recession territory.”
“These aren’t great numbers, but they are better than they could have been,” WSJ’s Mark Gongloff adds.
The number of people unemployed for 27 weeks or longer changed little over the month; those jobless make up 44 percent of the unemployed, a near record since the BLS began keeping track.
8.4 million Americans are still underemployed, working part-time jobs because they can’t get full-time hours; 2.8 million workers are out of work but haven’t looked for a job so can’t be counted in the official unemployment numbers, and 1.1 million workers are discouraged–they’re not counted in the official tally because they’ve given up looking.
The industries that added jobs were health care (+31,000), retail (+26,000), and manufacturing (+24,000). Temp work increased…not at all.