US Nonfarm Payrolls Up 1.8 Million in July

Nonfarm Payrolls (NFP) in the US rose by 1.8 million in July, the data published by the US Bureau of Labor Statistics showed on Friday. This reading beat the market expectation of 1.6 million by a small margin and followed June’s print of 4,791,000.

Further details of the publication revealed that the Unemployment Rate fell to 10.2% to come in better than analysts’ estimate of 10.2. Additionally, the Labor Force Participation Rate ticked down to 61.4% and the Average Hourly Earnings edged lower from 4.9% to 4.8% on a yearly basis.

The unemployment rate fell last month to 10.2%, compared to expectations at 10.5%.