"Economy Added 209,000 Jobs In July; Unemployment Rose To 6.2 Percent"
The economy added 209,000 jobs in July while the unemployment rate rose to 6.2 percent, according to the latest data from the Bureau of Labor Statistics. Analysts had expected 233,000 jobs to be added. It represents the sixth straight month of job gains over 200,000, which hasn’t happened since 1997, according to Bloomberg. The three-month average is 245,000.
The biggest gains were in professional and business services, which added 47,000 jobs, while manufacturing added 28,000, retail added 26,700, leisure and hospitality added 21,000, and the government sector added 11,000.
Revisions for the past two months added an additional 15,000 jobs. That broke down to 10,000 more jobs than originally thought in June, bringing June’s total up to 298,000, and 5,000 extra added in May, to a total of 229,000.