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U.S. Jobless Rate Drops
Unemployment in the U.S. declined to 3.9% in July from 4.0% in June and 3.8% in May, according to the Bureau of Labor Statistics.
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Unemployment in the U.S. declined to 3.9% in July from 4.0% in June and 3.8% in May, according to the Bureau of Labor Statistics.
The rate, which has been steadily descending from a high of 10% in October 2009, is at an average of about 4% for this year to date. BLS says the number of unemployed people in the country last month dropped by 284,000 to 6.3 million.
The economy has averaged 200,000 new jobs per month since May and added 157,000 positions in July. Most found posts in the professional and business services, manufacturing and healthcare/social services sectors.
Manufacturing added 37,000 jobs last month, bringing its total increase to 327,000 positions in the past 12 months. BLS says the average hourly wage in the U.S. advanced 7 cents to $27.05.
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