July Unemployment Rate Remains Above 10%

By Tom Burnett CFA

On August 7, the Bureau of Labor Statistics announced the national employment situation for July. Total employment rose by 1.8 million and the unemployment rate fell from 11.1% to 10.2%. Total employment now stands at 143.5 million, down 12.9 million from February. One year ago, the total jobs figure was 157.3 million. The number of unemployed workers seeking work is now 16.3 million, compared to 6.0 million a year ago.
The next announcement release will be September 4 for the August employment report.

Tom Burnett CFA is Director of Research