Morningstar

July US Jobs Report: 73,000 Rise in Payrolls, Weaker Than Expected

Prior-month job gains were revised down significantly; unemployment rate rose to 4.2%.

Collage with factory, plane, computer, tire, and shopping bag to represent the state of economy.

The US economy added 73,000 jobs in July, according to the latest report from the Bureau of Labor Statistics. The unemployment rate rose to 4.2% from June to July.

Nonfarm payroll employment had been forecast to show an increase of 117,500, down from an increase of 147,000 initially reported in June, according to FactSet. That June gain has since been revised down to 14,000. Meanwhile, the unemployment rate had been forecast to edge up to 4.2% from 4.1%.

Economists had forecast that nonfarm payroll employment would rise by 117,500 in July, according to consensus estimates from FactSet. The unemployment rate was expected to tick up to 4.2% in July.

July Jobs Report Key Stats

  • Total nonfarm payrolls rose by 73,000 after rising 14,000 in June.
  • The unemployment rate rose to 4.2% in July, little changed from June.

In July, average hourly wages rose by 12 cents, or 0.3%, to $36.44. The average workweek for all employees on private nonfarm payrolls rose to 34.3 hours in July, up from 34.2 June. For manufacturing employees, the average workweek was steady at 41.1, while overtime fell to 2.8 hours.

This article was generated with the help of automation and reviewed by Morningstar editors. Learn more about Morningstar’s use of automation.

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