The United States added 187,000 new jobs in July, according to the monthly report released by the Bureau of Labor Statistics. Average hourly wages rose 4.4 percent from a year earlier, slightly more than officials expected. The national unemployment rate decreased slightly from 3.6 percent in June to 3.5 percent in July.
The largest gains were seen in health care (+63,000), social assistance (+24,000), financial activities (+19,000), construction (+19,000), and leisure and hospitality services (+17,000). July marks the 31st consecutive month of job gains in the U.S., though it reflects a continued cooling of the labor market, as it reacts to the Federal Reserve’s inflation-fighting policies.
The full Bureau of Labor Statistics report can be found here.