Unemployment Rate Increases to 8.3% in July

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The unemployment rate rose .1% to 8.3% in July. The employment – population ration fell .2% to 58.4% while the labor force participation rate dropped .1% to 63.7% Often, when the unemployment rate rises, these numbers do as well. Because these rates lowered, it means there are fewer total people in the labor force and fewer of them are working.

Somewhat at odds with the other figures in the July release, total nonfarm payroll increased 163,000 jobs to 133.2 million. In addition, the median duration of unemployment fell an enormous 3.1 weeks.

For more information, see our Employment Report

–from The St. Louis Federal Reserve and the Bureau of Labor Statistics

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