US JOBS MISS, UNEMPLOYMENT RATE RISES TO 6.2%

The U.S. economy added 209,000 jobs in July and the unemployment rate rose to 6.2%.

This is according to latest employment report from the Bureau of Labor Statistics.

The labour force participation rate also ticked up to 62.9% from 62.8%, where it had been for the last three months.

In July, the average hours worked remained at 34.5 hours per week, and average hourly earnings increasing 0% over month and 2% over last year. Economists were expecting wages to increase 0.2% over last month and 2.2% over last year.

The number of persons employed part time for economic reasons, also known as involuntary part-time workers, remained unchanged at 7.5 million.

Read more: http://www.businessinsider.com/july-jobs-report-august-1-2014-8#ixzz398y3RaaV

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