A Mixed Jobs Report
The Labor Department reports that 163,000 new jobs were created in July, but the employment rate ticked up by 0.1 percentage points to 8.3%. There is a notable divergence this month between the household survey, from which the unemployment rate is derived, and the establishment survey, from which the number of jobs created or lost is calculated.
In the household survey, we see the unemployment rate tick up to 8.3% from 8.2%, as this survey showed that there were 195,000 fewer people working this month and 45,000 more unemployed, as the labor force fell by 150,000 people. The employment-to-population ratio fell to 58.4% from 58.6%, while the participation rate fell to 63.7% from 63.8%. But reflecting the flux created by people entering and leaving the labor force, some of the increase in the unemployment rate is due in part to re-entrants to the labor force, as 153,000 more people restarted their job search this month versus the previous month after having suspended it in the past....618 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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