U.S. July Nonfarm Payrolls Decline 51k, Unemployment Rate Up to 5.7%
U.S. nonfarm payrolls declined for the seventh straight month, falling less than expectations by a total of 51k jobs in July, according to the Bureau of Labor Statistics on Friday. June's decline was revised to a loss of 51k jobs from an initially reported loss of 62k jobs.
The report also saw May's 67k decline downwardly revised to a 47k decline.
The unemployment rate ticked up two-tenths to 5.7% (5.682%).
Nonfarm payrolls were expected to fall by 75k jobs in the month, with expectations ranging from a flat report to a loss of -150k jobs.
Keith Hall, commissioner of Bureau of Labor Statistics, said job losses continued in several industries, including construction, manufacturing, and employment services, while health care and mining continued to add jobs.
Total private jobs lost 76k in the month, with the goods-producing sector losing 46k, construction falling by 22k, and manufacturing losing 35k. The business services sector lost 24k jobs, while the financial sector came in flat following a 13k loss in June.
Positive gains were seen in education and health, which posted a 39k gain, leisure and hospitality, which advanced by 1k, and government jobs, which increased by 25k.
Average hourly earnings rose 0.3% from June for a total gain of 3.4% since July 2007. The average weekly earnings came in flat on the month but rose 2.8% year-over-year.
Total employment fell by 72k to 145.8 million. The employment-population ratio remained at 62.4%.
The civilian labour force rose by 213k to 154.6 million in July, and the labour force participation rate remained at 66.1%.
By Patrick McGee and edited by Nancy Girgis