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Macroeconomics  |  August 03, 2012 16:14:00

U.S. job creation in July exceeded expectations


Number of new jobs outside the U.S. agricultural sector in July increased by 163 thousand and exceeded expectations, the Labor Department reported. It was the highest level since February of this year (259 thousand). Office revised the employment figure for June down from the preliminary 80 000 64 000 annual minimum in May and up from the preliminary 77 000 to 87 thousand.

In the private sector, the number of persons employed 172 000 111 310 000 and the public sector declined by 9000 to 21.92 million. In the manufacturing sector, employment increased by 24,000 jobs (in June 13 000), while in the service of 148 000 jobs (in June only about 60 000). In the manufacturing sector, companies have created 25,000 new jobs in construction, the number of jobs fell by 2,000 in the mining sector stagnated.

The seasonally adjusted number of unemployed persons in July, increased again by 45 thousand to 12.79 million and the unemployment rate rose to a five-month peak of 8.3% from 8.2% in June. The participation rate fell by 0.1% to 63.7% and fell by 0.3%. In the same period last year in the U.S. was 13.9 million unemployed persons and unemployment rate of 9.1%. The average working week in July remained unchanged at 34.5 hours. Average hourly wages rose by 2 cents to $ 23.52 and increase year on year by 1.7%.



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