August 13, 2012
July 2012 Market Environment
U.S. Economy
The unemployment rate increased 0.1% to 8.3% in July. Both the labor force participation rate and employmentpopulation ratio decreased in July by 0.2% and 0.3%, respectively. The average duration of unemployment lasted for 38.8 weeks and broad unemployment (U6) rose by 0.1% to 15%. The non-farm payroll, the net number of nonfarm jobs added or subtracted per month, rose by 163K in July. Year-to-date, employment growth has averaged 151K per month. Employment gains during July occurred in professional and business services (49K), food services and drinking places (29K), manufacturing (25K), and health care (12K), while utilities employment declined by 8K. Non-farm payroll employment for May and June were revised to show a 6K net decrease in job growth.
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