164,000 Jobs Added to the Market in July

The U.S. economy added 164,000 jobs to the market in July, according to numbers reported in the Economic Situation Report released by the U.S. Bureau of Labor Statistics. 

Payroll growth last month closely matched the Dow Jones’ forecast of 165,000 jobs, and also aligned with the monthly average growth for the year. In 2018, employment gains averaged 223,000 per month.  

The unemployment rate held at 3.7 percent for the month and the number of unemployed persons changed little at 6.1 million.

In July, notable job gains occurred in professional and technical services (+31,000), health care (+30,000), social assistance (+20,000), and financial activities (+18,000). Financial activities employment rose by 18,000, with most of the gain occurring in insurance carriers and related activities (+11,000). 

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