https://www.bls.gov/news.release/archives/empsit_08062021.pdf
Recent Data:
- Jul 2021: +943,000 (P)
- Jun 2021: +938,000 (P)
- May 2021: +614,000 (F)
- Apr 2021: +269,000 (F)
- Mar 2021: +785,000 (F)
THE EMPLOYMENT SITUATION -- JULY 2021
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.
Household Survey Data
The unemployment rate declined by 0.5 percentage point to 5.4 percent in July, and the number of unemployed persons fell by 782,000 to 8.7 million. These measures are down considerably from their highs at the end of the February-April 2020 recession. However, they remain well above their levels prior to the coronavirus (COVID-19) pandemic (3.5 percent and 5.7 million, respectively, in February 2020). (See table A-1. See the box note at the end of this news release for more information about how the household survey and its measures were affected by the coronavirus pandemic.)
Among the unemployed, the number of persons on temporary layoff fell by 572,000 to 1.2 million in July. This measure is down considerably from the high of 18.0 million in April 2020 but is 489,000 above the February 2020 level. The number of permanent job losers declined by 257,000 to 2.9 million in July but is 1.6 million higher than in February 2020. (See table A-11.)
The number of long-term unemployed (those jobless for 27 weeks or more) decreased by 560,000 in July to 3.4 million but is 2.3 million higher than in February 2020. These long-term unemployed accounted for 39.3 percent of the total unemployed in July. The number of persons jobless less than 5 weeks increased by 276,000 to 2.3 million. (See table A-12.)
The labor force participation rate was little changed at 61.7 percent in July and has remained within a narrow range of 61.4 percent to 61.7 percent since June 2020. The participation rate is 1.6 percentage points lower than in February 2020. The employment- population ratio increased by 0.4 percentage point to 58.4 percent in July and is up by 1.0 percentage point since December 2020. However, this measure is 2.7 percentage points below its February 2020 level. (See table A-1.)
Among those not in the labor force who currently want a job, the number of persons marginally attached to the labor force, at 1.9 million, was little changed in July but is up by 435,000 since February 2020. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, was 507,000 in July, down by 110,000 from the previous month but 106,000 higher than in February 2020. (See Summary table A.)
Household Survey Supplemental Data
In July, 13.2 percent of employed persons teleworked because of the coronavirus pandemic, down from 14.4 percent in the prior month. These data refer to employed persons who teleworked or worked at home for pay at some point in the last 4 weeks specifically because of the pandemic.
Establishment Survey Data
Total nonfarm payroll employment rose by 943,000 in July, following a similar increase in June (+938,000). Nonfarm payroll employment in July is up by 16.7 million since April 2020 but is down by 5.7 million, or 3.7 percent, from its pre-pandemic level in February 2020. In July, notable job gains occurred in leisure and hospitality, in local government education, and in professional and business services. (See table B-1. See the box note at the end of this news release for more information about how the establishment survey and its measures were affected by the coronavirus pandemic.)
In July, average hourly earnings for all employees on private nonfarm payrolls increased by 11 cents to $30.54, following increases in the prior 3 months. Average hourly earnings for private-sector production and nonsupervisory employees also rose by 11 cents in July to $25.83. The data for recent months suggest that the rising demand for labor associated with the recovery from the pandemic may have put upward pressure on wages. However, because average hourly earnings vary widely across industries, the large employment fluctuations since February 2020 complicate the analysis of recent trends in average hourly earnings. (See tables B-3 and B-8.)
In July, the average workweek for all employees on private nonfarm payrolls was unchanged at 34.8 hours. In manufacturing, the average workweek increased by 0.2 hour to 40.5 hours, and overtime was unchanged at 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 34.2 hours. (See tables B-2 and B-7.)
The change in total nonfarm payroll employment for May was revised up by 31,000, from +583,000 to +614,000, and the change for June was revised up by 88,000, from +850,000 to +938,000. With these revisions, employment in May and June combined is 119,000 higher than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)
Submitted August 06, 2021 at 11:15AM by MasterCookSwag https://ift.tt/3rYmWCe
