Unemployment rises to 6.2 percent in July

The U.S. unemployment rate rose to 6.2 percent in July from 6.1 percent in June as U.S. employers added 209,000 jobs, according to USA Today. Economists were expecting to add 238,000 jobs.

Although July's job gains did not reach the average job growth of nearly 230,000 a month so far this year, it was the sixth straight month of employment increases reaching more than 200,000, which is the longest such stretch since 1997.

May and June employment gains were revised upward by 15,000; May was revised upward by 5,000, to 229,000, and June was revised upward by 10,000, to 298,000.

In July, the professional and business services sector added 47,000 jobs; manufacturing sector added 28,000 jobs; retail sector added 27,000 jobs; construction sector added 22,000 jobs; and social assistance sector added 18,000 jobs.

The food services and drinking places; health care; transportation and warehousing; financial activities; and government sectors basically were unchanged.

There currently are 9.7 million unemployed people in the U.S.

Date : 8/4/2014


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