U.S. Adds 162,000 Jobs in July; Unemployment Edges Down
The Labor Department said U.S. employment increased by 162,000 in July, and the unemployment rate edged down to 7.4%. Employment rose in retail trade, food services and drinking places, financial activities and wholesale trade.
Retail trade added 47,000 jobs in July and has added 352,000 over the past 12 months. Within leisure and hospitality, employment in food services and drinking places increased by 38,000 in July and by 381,000 over the year. Financial activities employment increased by 15,000 in July, with a gain of 6,000 in securities, commodity contracts and investments. Over the year, financial activities has added 120,000 jobs. Employment increased in wholesale trade (+14,000) in July. Over the past 12 months, this industry has added 83,000 jobs.
Manufacturing employment was essentially unchanged in July and has changed little, on net, over the past 12 months. Within the industry, employment in motor vehicles and parts rose by 9,000 in July.
Employment in healthcare was essentially unchanged over the month. Thus far in 2013, healthcare has added an average of 16,000 jobs per month, compared with an average monthly increase of 27,000 in 2012.
Employment in other major industries, including mining and logging, construction, transportation and warehousing, and government, showed little change in July.
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