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163,000 Jobs Added in July

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  • Description

    FBN’s Rich Edson breaks down the latest report from the Labor Department.

  • Duration 2:17
  • Date

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163000.

Jobs added in the unemployment rate increases to eight point 3% -- -- strange phenomenon here.

To be explained by simply too different surveys to different groups of people -- job increases.

Of -- to 63000.

And the unemployment rate.

Increases -- eight point 3% you -- rich that is extraordinary news in itself we were not expect I don't think any.

Analysts was looking for a 163000.

Jobs that is still a relatively weak jobs report.

With three years after the end of the recession we should be created two -- 300000 a month but a 163000.

Is better than expected.

But a rise in the unemployment rate that's a very important headline which will be picked up widely.

Rich I know you've dug more deeply into the numbers so let me ask you this.

What is the so called real unemployment rate coming and I believe the technical name is -- six -- back now.

Right and that's would you include folks who aren't looking for work they're unemployed or don't think they can find a job -- that unemployment rate securities -- 15%.

And increase from last month at fourteen point.

9% so an increase there.

Do we know if anyone know what number of people came into the -- before sold dropped out of -- -- -- -- the labour participation right.

Right and -- Stewart is another strange number here when you put them all together labor force.

Decreases.

By 155000.

That's not a good number a 155000.

Fewer people in the labor force.

And the unemployment rate goes off.

To eight point 3% that's that's -- extraordinary contradiction.

Is anything else in the numbers I should know about government jobs vs private enterprise manufacturing -- services.

Right Stuart buck private sector adds a 172000.

Jobs the government fell by 9000 much of that postal employees 6000 coming from state governments.

When you look at private service jobs a 148000.

Manufacturing up 25000.

And also utilities lost 8000 most of that coming because of a labor dispute.

All right Richardson thank you very much indeed to repeat the headline numbers the most important numbers all of these 163000.

New jobs created last month.

But the unemployment rate went off to eight point 3%.

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