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July's Employment Situation

On August 3, the Bureau of Labor Statistics (BLS) reported that total nonfarm payrolls increased by 157,000 in July. The largest sector gains occurred in professional and business services (+51,000), manufacturing (+37,000), and healthcare (+34,000). The unemployment rate fell to 3.9 percent, from 4.0 percent in June. The BLS also revised May's total nonfarm payroll up from +244,000 to +268,000 and total nonfarm payrolls in June up from +213,000 to +248,000. Read the full report here.