NEW: U.S. Economy Adds 164,000 Jobs in July

Friday, August 02, 2019
GoLocalPDX Business Team

The U.S. economy added 164,000 jobs in the month of July while the unemployment rate remained at 3.7%, announced the Department of Labor on Friday.

Job Numbers

According to the Department of Labor, professional and technical services jobs increased by 31,000, while healthcare rose by 30,000.

Social assistance and financial jobs added 20,000 and 18,000 respectively.

Manufacturing jobs increased by 16,000, while mining jobs dropped by 5,000.

The Department of Labor reports that wages increased to 3.2% year-over-year, while average weekly hours dropped to 34.3.

Unemployment Rate

The unemployment rate remained at 3.7%, the same as it was in June.

According to CNBC, economists expected the rate to drop to 3.6%, however, 370,000 new workers brought the participation rate up to 63%.

The total labor force is 163.4 million, a record high.