NATIONAL REPORT—U.S. job growth is improving as companies added 157,000 jobs in July, and the unemployment rate fell slightly to 3.9%, according to the U.S. Bureau of Labor Statistics. Gains were seen in professional and business services, manufacturing, healthcare, and social assistance.
In July, the unemployment rate edged down by 0.1 percentage point to 3.9%, following an increase in June. The number of unemployed persons declined by 284,000 to 6.3 million in July. Both measures were down over the year, by 0.4 percentage point and 676,000, respectively.
Among the major worker groups, the unemployment rates for adult men (3.4%) and Whites (3.4%) declined in July. The jobless rates for adult women (3.7%), teenagers (13.1%), Blacks (6.6%), Asians (3.1%), and Hispanics (4.5%) showed little or no change over the month.
While the news may be good for the economy, the U.S. unemployment rate has caused a labor shortage for industries across the country, and hospitality is definitely feeling the crunch. For more, read what industry analysts had to say about the labor market.