3.9% Unemployment Rate, and Five More Things You Should Know From July’s Jobs Report
This July, the unemployment rate dropped to 3.9 percent ‒ only the eighth time that the monthly rate has fallen below 4.0 percent since 1970, and three of those months have been in 2018.
Here are five more things you should know from the July 2018 Employment Situation report from the U.S. Department of Labor’s Bureau of Labor Statistics.
- A total of 3.9 million new jobs have been created since November 2016, including 157,000 new jobs in July.
- The Hispanic unemployment rate set a new record low for the second month in a row, at 4.5 percent.
- The unemployment rate for workers with less than a high school diploma is the lowest ever.
- 932,000 new jobs have been created in goods-producing industries since November 2016, including 431,000 in construction and 412,000 in manufacturing.
- A record high 156 million Americans have jobs.
Read U.S. Secretary of Labor Alexander Acosta’s statement on the July 2018 jobs report.