Both payroll employment (-23,000) and unemployment rate (4.1%) change little in July

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The U.S. Bureau of Labor Statistics reported that nonfarm payroll employment changed little in July 2026, falling by 23,000, while the unemployment rate held at 4.1 percent, with 6.9 million people unemployed. The agency noted employment declines in local government education (-50,000) and retail trade (-19,000), continued upward trends in health care (+22,000), and a downward trend in financial activities (-14,000). Average hourly earnings for all private nonfarm employees were $37.62, up 2 cents, with a 3.2 percent increase over the year, and the average workweek remained unchanged at 34.3 hours. BLS also revised May's payroll change down from +129,000 to +63,000 and June's from +57,000 to +20,000, and stated it will publish the preliminary 2026 benchmark revision to establishment survey data on August 28, 2026.

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