Manufacturing & The Economy
The U.S. added 209,000 jobs in July, according to the Bureau of Labor Statistics (BLS). This is the sixth straight month with at least 200,000 jobs added, the longest such streak in 17 years. Revisions to May and June netted another 15,000 jobs. The unemployment rate increased slightly, to 6.2%, primarily due to an increase in labor force participation.
Gains occurred in the in professional and business services, manufacturing, retail trade and construction sectors.
Manufacturing accounted for 28,000 new jobs in July. Over the prior 12 months, manufacturing had added an average of 12,000 jobs per month, primarily in durable goods industries.