Friday, August 2, 2013

July unemployment rate down 0.2% to 7.4%, 162,000 jobs created

Credit: Calculated Risk
Fresh electrons from the Bureau of Labor Statistics: the July unemployment rate was 7.4%, 0.2% lower than the June unemployment rate. 162,000 non-farm payroll jobs were created, which is below expectations.

The broader U6 unemployment rate was down 0.3% to 14.0%. Chemical manufacturing was up slightly to 797,200, an increase of 1,700 jobs.

The unemployment rate of all college graduates was down 0.1% to 3.8%; the unemployment rate of people who did not graduate from high school was up 0.3% to 11.0%.

Basically, another month of the long, slow slog back to something approaching full employment.

Thanks, as always, to Calculated Risk for the graph.


  1. This graph makes me sad. I did a simple extrapolation of the data and if my math is right, we won't meet 0.0% job loss relative to peak employment for another year, at about the 77 month mark. Data like this makes me reconsider going to grad school.

    1. Noooooooooooooooo!

      Keep going. Change fields. Start a business. But do NOT double-down on a bad decision.


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