Employment numbers for July
Employment numbers for July
Released On 8/4/2017 8:30:00 AM For Jul, 2017
Prior Consensus Consensus Range
Nonfarm Payrolls - M/M change 222,000 178,000 144,000 to 220,000
Unemployment Rate - Level 4.4 % 4.3 % 4.3 % to 4.4 %
Private Payrolls - M/M change 187,000 175,000 151,000 to 205,000
Manufacturing Payrolls - M/M change 1,000 3,000 -3,000 to 10,000
Participation Rate - level 62.8 %
Average Hourly Earnings - M/M change 0.2 % 0.3 % 0.1 % to 0.4 %
Average Hourly Earnings - Y/Y change 2.5 % 2.5 % 2.4 % to 2.6 %
Av Workweek - All Employees 34.5 hrs 34.5 hrs 34.4 hrs to 34.5 hrs
Recent History Of This Indicator
After rising a strong 222,000 in July, nonfarm payroll growth is expected to slow back to trend under 200,000, to a consensus 178,000 in July. The unemployment rate is seen tightening one notch to 4.3 percent and average hourly earnings, which slowed to only 0.2 percent in June, are expected to move back to a 0.3 percent monthly gain. Year-on-year earnings are seen unchanged at 2.5 percent. Other calls are for a 175,000 rise in private payrolls, a modest 3,000 gain for manufacturing payrolls, and no change in the workweek at 34.5 hours.
Definition
The employment situation is a set of labor market indicators based on two separate surveys in this one report. The unemployment rate equals the number of unemployed persons divided by the total number of persons in the labor force, which comes from a survey of 60,000 households (this is called the household survey). Workers are only counted once, no matter how many jobs they have, or whether they are only working part-time. In order to be counted as unemployed, one must be actively looking for work. Other commonly known figures from the Household Survey include the labor supply and discouraged workers.
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