US gains 943,000 jobs in July, unemployment falls to 5.4%: govt

WASHINGTON - The recovering US economy added 943,000 new jobs in July, according to government data released Friday, as hard-hit industries continued to return to normal.

The result was shy of the million jobs some economists had been expecting, but enough to push the unemployment rate down a half a point to 5.4 percent, the Labor Department reported.

With widespread vaccinations allowing economic activity to return to normal, hiring has begun to accelerate, but the economy remains 5.7 million jobs short of the pre-pandemic level.

But the jobs gain in June was revised sharply higher than the original report, to show a gain of 938,000 non-farm payroll positions, seasonally adjusted.

Notable gains in hiring in July came in the leisure and hospitality sector, which increased 380,000, as well as public education, which rose 220,000, the report said.

For Black workers, the jobless rate fell a full point from the prior month to 8.2 percent, although that came amid a worrying decline in labor force participation.

In another sign the labor market has not fully recovered, there were 4.5 million people working part time because they cannot find full time work, the report said.

There were just 11,000 positions added in construction and 27,000 in manufacturing.

Average hourly earnings nationwide jumped 11 cents to $30.54, the report said.

AFP