Both payroll employment (+73,000) and unemployment rate (4.2%) change little in July

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The U.S. Bureau of Labor Statistics reported that total nonfarm payroll employment changed little in July (+73,000) and has shown little change since April, while the unemployment rate, at 4.2 percent, also changed little, with 7.2 million people unemployed. The agency noted continued employment gains in health care (+55,000) and social assistance (+18,000), while federal government employment continued to decline (-12,000), down 84,000 since its January peak. Average hourly earnings for all private nonfarm employees rose by 12 cents, or 0.3 percent, to $36.44 in July, with a 12-month increase of 3.9 percent. BLS also reported that May's payroll change was revised down by 125,000 to +19,000 and June's by 133,000 to +14,000, meaning employment in those two months combined was 258,000 lower than previously reported.

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