July’s Employment Report – The Numbers

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245,000

The average number of jobs the economy added over the past three months. That’s still up slightly from the average 243,000 created in the preceding three-month period, and far higher from the average 209,000 added in the 12 months through June.

Broader Unemployment Rate

12.2%

A broader measure of unemployment that reflects workers who are unemployed, stuck in part-time jobs, or have given up looking for work because they are discouraged by the state of the labor market ticked up from June’s 12.1%. This figure is historically high but down from a peak of just over 17% in spring 2010.

Weak Wage Boost

2.0%

The year-over-year rise in the average hourly earnings among private-sector workers rose a penny in July from May to $24.45 an hour. The annual rise is slightly above the rate of overall inflation, meaning that most of the income gains are going toward higher bills and other costs, rather than greater discretionary spending.

Labor Force Participation

62.9%

The share of working-age Americans who are employed or at least looking for a job. Participation climbed from June’s level of 62.8%. Over the past year, it’s up 0.3 percentage point. However, the rate is still hovering near three-decade lows. It’s unclear how many of those who left the work force will return.

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1 August 2014 | 12:51 pm – Source: blogs.wsj.com

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