JOB MARKET SNAPSHOT
Employment Growth
−23,000
nonfarm payrolls
Little changed; prior 12 month average was +34,000
Unemployment Rate
4.1%
seasonally adjusted
Down 0.1 point from June's 4.2%
Wage Growth
$37.62
average hourly earnings
Up 2¢ month over month; +3.2% year over year
Labor force
Participation was 61.4%, down 0.1 point. The employment population ratio was 58.9%, also down 0.1 point. The number of unemployed people was 6.9 million, little changed.
Where employment moved
Employment declined in local government education by 50,000 and retail trade by 19,000. Health care added 22,000, while financial activities continued to trend down by 14,000.
Hours and revisions
The average workweek held at 34.3 hours. May was revised down 66,000 to +63,000 and June down 37,000 to +20,000, making the two month total 103,000 lower than previously reported.
What is next
Private payrolls rose about 30,000 while government employment fell. The next report, covering August, is scheduled for September 4. A preliminary benchmark revision estimate is due August 28.
Source: U.S. Bureau of Labor Statistics, July 2026 Employment Situation report, released August 7, 2026.