Friday, August 1, 2014

Nation's Jobless Rate Ticks up to 7.2 Percent

Posted By on Fri, Aug 1, 2014 at 10:10 AM

Friday morning's job report, indicating that the nation's nonfarm payrolls increased by 209,000 in July, came in below expectations.

The U.S. unemployment rate ticked up to 7.2 percent, but July also marked the sixth straight month of 200,000-plus job increases, the longest stretch since 1997.

Additionally, job gains for May and June were revised up by a total of 15,000.

Professional and business services led July's job gains with 47,000, followed by manufacturing with 28,000, retailers with 27,000, construction with 22,000 and leisure and hospitality with 21,000.

Meanwhile the so-called underemployment rate, which includes those who have stopped looking for jobs and part-timers who would prefer to work full-time, ticked up to 12.2 percent.

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