Total nonfarm payroll employment rose by 943,000 in July, and the unemployment rate declined by 0.5 percentage point to 5.4 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, in local government education, and in professional and business services. This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and ... (full story)

The economy added 943,000 jobs in July, the Bureau of Labor Statistics said Friday, compared to analysts’ expectations of 850,000 positions added. The unemployment rate plunged to 5.4 from 5.9 percent. While likely to provide a shot of confidence for Wall Street, economists say Friday's data underscores the volatility that remains in the labor market and makes it harder for employers to forecast or invest — and could crimp consumer spending. “It does create some concern,” said James McCann, deputy chief economist at Aberdeen Standard Investments. “The fear that it's picking up on these frictions in the labor market ... (full story)