July US Jobs Report: 114,000 Rise in Payrolls, Weaker Than Expected

The US economy added 114,000 jobs in July, according to the latest report from the Bureau of Labor Statistics.

The report also revised down previous estimates for new job creation in June and May.

The unemployment rate rose to 4.3% in July from 4.1% in June.

Economists had forecast that the economy added 175,000 jobs in July, down from an originally reported 206,000 in June, according to FactSet consensus estimates. The unemployment rate had been predicted to hold steady at 4.1%.

July Jobs Report Key Stats

• Total nonfarm payrolls climbed by 114,000 versus a downward-revised 179,000 in June.
• The unemployment rate climbed to 4.3% from 4.1% in June.
• Average hourly wages rose by 0.2% to $35.07 after rising 0.3% in June.

In July, average hourly wages rose by 8 cents, or 0.2%, to $35.07. Over the past 12 months, average hourly earnings rose 3.6%.

The average workweek for all employees on private nonfarm payrolls dropped to 34.2 hours in July, down from 34.3 in June. For manufacturing employees, the average workweek dropped to 39.6 hours in July, and overtime fell to 2.7 hours. For production and nonsupervisory employees, the average workweek was reduced to 33.7 hours from 34.1 the prior month.