Unemployment Up Slightly In July
The U.S. unemployment rate rose slightly in July as 163,000 jobs were created, according to the U.S. Bureau of Labor Statistics.
There were 12.8 million unemployed workers last month, up from 12.7 million the previous month, bringing the unemployment rate to 8.3 percent, up from 8.2 percent in June.
Employment rose in professional and business services, the food and drink industry, and manufacturing.
New jobs seem to be trending upward; 80,000 were added in June, while 69,000 were added in May. And there were slightly fewer long-term unemployed workers in July, with 5.2 million people without jobs for 27 weeks or more, down from 5.4 million in June.
But the U.S. will need to average 150,000 jobs a month to make a dent in the unemployment rate, TrimTabs Investment Research said this week.
Image source: Freedigitalphotos.net
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