U.S. Economy Added 187,000 Jobs in July

324,000 

In July, the private sector has added 324,000 jobs, from the total 201,000 jump in restaurants, hotels, bars and affiliated businesses. This growth is above the Dow Jones estimate of 175,000. For every month, the services sector is accountable for 303,000 jobs. 

3.5% 

As per the Labor Department, the U.S. economy added 187,000 jobs in July, which is relatively high when compared to the prior month. The unemployment rate declined to 3.5% in the previous month from 3.6% in June. Wages continued to rise with average hourly earnings growing 4.4% in July from a year earlier.  

5% 

Analysis from 3,600 companies by Scoop Technologies reveals that companies that allow remote work for at least one day per week increased by 5% in May 2023 from June 2022, while the company with full-time office requirements gained 2.6% on average. Nicholas Bloom says that many of the employees feel that hybrid working options is equal to an 8% pay rise.   

5.8% 

Labor Department data reported that the jobless rate for Black workers decline to 5.8% in July, which is down from 6.0% in June and lower than the 6.0% rate from YOY. In July, the unemployment rate for Hispanic workers has increased to 4.4% and Asian workers dropped to 2.3%. 

87,100 

In July, unexpectedly the U.S. economy added 187,000 jobs, in which jobs from health care and social assistance category pull up by 70,000 and Ambulatory care services alone added 35,000 jobs. Compared to the remaining employment industry healthcare has acquired 35% of the job gain.