US Unemployment Rate Falls to 4.3%

US unemployment rate fell one-tenth of a percentage point to 4.3 percent in July 2017, matching a 16-year low touched in May. The number of unemployed persons was little changed at 7.0 million while the labor force participation rate edged up to 62.9 percent.
BLS | Joana Ferreira | 8/4/2017 2:24:51 PM
Among the major worker groups, the unemployment rates for adult men (4.0 percent), adult  women (4.0 percent), teenagers (13.2 percent), Whites (3.8 percent), Blacks (7.4 percent),  Asians (3.8 percent), and Hispanics (5.1 percent) showed little or no change in July. 

Among the unemployed, the number of long-term unemployed (those jobless for 27 weeks or  more) was little changed at 1.8 million in July and accounted for 25.9 percent of the unemployed.

The labor force participation rate, at 62.9 percent, changed little in July and has shown little movement on net over the past year. The employment-population ratio (60.2 percent) was also little changed in July but is up by 0.4 percentage point over the year. 

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers), at 5.3 million, was essentially unchanged in July. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job. 

There were 1.6 million persons marginally attached to the labor force, down by 321,000 from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 536,000 discouraged workers in July, essentially unchanged over the year. Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.1 million persons marginally attached to the labor force in July had not searched for work for reasons such as school attendance or family responsibilities. 

US Unemployment Rate Falls to 4.3%