US unemployment rate drops to 3.5% – Kommersant
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In July, 187,000 new jobs were created in the US, which is less than expected. However, unemployment at the same time fell to 3.5%, which, according to experts, testifies to the flexibility of the labor market. In general, since March 2022, the unemployment rate in the country has fluctuated in the range of 3.4-3.7%. These data are provided on a monthly basis. report Federal Bureau of Statistics, US Department of Labor.
The number of unemployed in the US in July remained virtually unchanged compared to June and amounted to 5.8 million people. Of these, 1.2 million people, or 19.9%, are unemployed for a long time.
The increase in the number of new jobs compared to June in July was insignificant: 187 thousand against 185 thousand. Economists, according to AP, generally predicted 200 thousand new jobs in July. But, as economists point out, given that the Federal Reserve has raised interest rates 11 times since March 2022, even 187,000 new jobs can be considered a good result. Most of the jobs appeared in the healthcare sector – 63 thousand, of which 35 thousand in outpatient facilities and 16 thousand in hospitals. 24,000 new employees appeared in social assistance, 19,000 in finance, 19,000 in construction, and 18,000 in wholesale trade. Hourly wages for private sector workers increased by 0.4% to $33.74 The average working week in the private sector decreased by 0.1 hours to 34.2 hours.
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