PhotoThe U.S. economy turned out another 255,000 jobs in July, according to figures from the Department of Labor (DOL). Additionally, the June and May employment numbers were revised higher.

At the same time, the government says the unemployment rate was unchanged at 4.9%, with the number of unemployed persons essentially unchanged at 7.8 million.

Employment gains last month were led by professional and business services (+70,000 jobs), leisure and hospitality (+45,000), health care (+43,000) and financial activities (+18,000). The mining industry lost 6,000 jobs last month and, since peaking in September 2014, has fallen by 220,000, or 26%.

Employment in other major industries, including construction, manufacturing, wholesale trade, retail trade, and information, showed little or no change.

Who's in and out of work

Unemployment rates in July were little changed for adult men (4.6%), adult women (4.3%), teenagers (15.6%), Whites, (4.3%), Blacks (8.4%), Asians (3.8%), and Hispanics (5.4%).

The number of long-term unemployed (those jobless for 27 weeks or more) was roughly unchanged over the month at 2.0 million, and accounted for 26.6% of the unemployed.

Both the labor force participation rate, at 62.8%, and the employment-population ratio, at 59.7%, were little-changed in July.

For those who were working, average hourly earnings for private nonfarm payrolls increased by eight cents to $25.69. Over the year, average hourly earnings are up 2.6%.

As it released the July employment report, the government revised its employment numbers for May from a gain of 11,000 jobs to 24,000, and the change for June to +292,000 from +287,000. That puts employment gains for both months at 18,000 more than previously reported. Over the past three months, job gains have averaged 190,000 per month.

The complete report is available on the DOL website.

Need help dealing with the IRS?

Our tax relief matching tool will find the right company for you.

    Share your Comments