WASHINGTON, D.C. — The U.S. Bureau of Labor Statistics (BLS) has reported that the U.S. economy has added 114,000 jobs in July, far below the 215,000 monthly average over the previous 12 months. The total is also below the 185,000 jobs that Dow Jones economists estimated for the month, according to CNBC. Additionally, the BLS revised down the May and June totals by a collective 29,000 jobs.
The U.S. unemployment rate increased to 4.3 percent, its highest level since October 2021 and a 20-basis-point increase from June.
Healthcare saw the largest monthly increase with 55,000 jobs added in July, a little below the sector’s monthly average of 63,000 over the prior 12 months. Sectors that saw nominal growth included construction (25,000 jobs), government (17,000), transportation and warehousing (14,000) and social assistance (9,000).
Information employment declined by 20,000 jobs. Other sectors, including manufacturing, professional and business services and leisure and hospitality, saw minimal change from June.