Key Points:
- Total nonfarm payroll employment rose by 943,000 in July as the unemployment rate fell 0.5% to 5.4%.
- This is the sixth month of job gains after payrolls fell steeply in December.
- Nonfarm employment is down by 5.7 Million from pre-pandemic levels in February 2020.
- Employment in leisure and hospitality increased by 343,000, as pandemic- related restrictions continue to ease in many parts of the country.
- In July, employment in leisure and hospitality increased by 380,000, but is still down by 1.7 million from its level in February 2020.
- Manufacturing employment rose by 27,000, but is still down 433,000 from its level in February 2020.
- In July, average hourly earnings for all employees on private nonfarm payrolls increased by 11 cents to $30.54.
- The average workweek for all private employees was unchanged at 34.8 hours in July.
- The labor force participation rate was little changed again at 61.7% in July and is 1.6% lower than February 2020.