U.S. gains 215,000 jobs in July; unemployment 5.3%

U.S. gains 215,000 jobs in July; unemployment 5.3%

The U.S. created 215,000 new jobs in July, a solid midsummer employment report card that shows the labor market continues to heal and that keeps the Federal Reserve on track to raise interest rates in the near future. Economists polled by MarketWatch had expected a gain of 220,000 nonfarm jobs. The unemployment rate, meanwhile, was unchanged at 5.3%. Employment gains for June and May were revised up by a combined 14,000, the Labor Department said Friday. The government said 231,000 new jobs were created in June instead of 223,000. May's gain was raised to 260,000 from 254,000. In the past three months the economy has created an average of 235,000 jobs, up from a 195,000 pace in the first quarter. 

 Labor participation rate stays at 38-year low of 62.6% I'd say they are gaming the participation rate at this stage and its much MUCH! lower than forecast.