The U.S. economy added 130,000 jobs in July, while the unemployment rate remained at 3.7%, according to Department of Labor data released Friday.
130,000 jobs were added in August, according to the Bureau of Labor Statistics report, about 30,000 less jobs than were added in July. The labor force participation rate slightly rose from 63% in July to 63.2% in August.
Economists predicted the unemployment rate would remain the same at 3.7%, according to CNN, and that the non farm payroll employment would be less than July.
The unemployment rate has held steady between 4% and 3.7% for more than a year before the April jobs report showed it drop to 3.6%. Prior to April’s report, the consistent unemployment rate suggested that workers are jumping back into the workforce to fill open jobs, rather than the workers who are currently collecting unemployment welfare, according to WSJ.
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