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Home Economy

528,000 jobs added in July, unemployment rate at 3.5%

August 5, 2022
Reading Time: 1 min read
428,000 jobs added in April, unemployment rate at 3.6%

Total nonfarm payroll employment rose by 528,000 in July, according to the Bureau of Labor Statistics. Total unemployed persons edged down to 5.7 million in July, and the unemployment rate fell to 3.5%.

Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care.

In July, leisure and hospitality added 96,000 jobs as growth continued in food services and drinking places (+74,000). However, employment in leisure and hospitality is below its February 2020 level by 1.2 million, or 7.1%.

Employment in professional and business services continued to grow, with an increase of 89,000 in July. Job growth was widespread within the industry, including gains in management of companies and enterprises (+13,000), architectural and engineering services (+13,000), management and technical consulting services (+12,000), and scientific research and development services (+10,000). Employment in professional and business services is 986,000 higher than in February 2020.

Employment in health care rose by 70,000 in July. Job gains occurred in ambulatory health care services (+47,000), hospitals (+13,000), and nursing and residential care facilities (+9,000). Employment in health care overall is below its February 2020 level by 78,000 or 0.5%.

Read the BLS release.

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