July's Job Report: Rate Remains at 4.9%

Aug 05, 2016
July’s job report saw an increase of 255,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. Job gains occurred in professional and business services, health care, and financial activities. Losses continue to plague the mining industry. 

Over the past three months, job gains have averaged 190,000 per month.  

July’s unemployment rate remained at 4.9%, unchanged from the previous month. The civilian labor force participation rate changed slightly to 62.8%, from 62.7% in June. 

The report found that in July, average hourly earnings for employees on private, nonfarm payrolls rose by 8 cents to $25.69. Over the year, average hourly earnings have risen by 2.6%.