U.S. Unemployment Rate Now Down to 3.9 Percent

Many of the jobs that were expected in July were actually created in prior months…

worker photo

PHOTO: jarmoluk (Pixabay)

(Breitbart) The U.S. economy added another 157,000 jobs in July and the unemployment rate fell to 3.9 percent, according to a Labor Department report Friday.

Economists had expected a nonfarm payrolls gain of 190,000 and the jobless rate to tick down to 3.9 percent.

Nonfarm payroll growth for June was revised up to 248,000 from 213,000.

May’s jobs were revised to 268,000 from 244,000.

So what seems to have happened is that many of the jobs that were expected in July were actually created in prior months.

Manufacturing added 37,000 jobs, with most of the gain in the durable goods component.

Over the past 12 months, manufacturing has added 327,000 jobs.

Construction added 19,000 jobs and has increased by 308,000 over the year…

Wage gains were muted.

Average hourly earnings showed an annual gain of 2.7 percent and a 0.3 percent gain from the prior month…Original Source