Commissioner's Statement on the Employment Situation News Release — 2013-08-02

Advance copies of this statement are made available to the press under lock-up conditions with the explicit understanding that the data are embargoed until 8:30 a.m. Eastern Daylight Time. Nonfarm payroll employment increased by 162,000 in July, and the unemployment rate edged down to 7.4 percent. Over the prior 12-month period, job gains averaged 189,000 per month. In July, employment rose in retail trade, food services, financial activities, and wholesale trade. Retail trade employment grew by 47,000 over the month. Job gains were widespread in the industry. Food services and drinking places added 38,000 jobs in July and 381,000 over the year. Employment in financial activities increased by 15,000 in July, due in part to job gains in the securities industry. Wholesale trade continued to show steady job growth, with a gain of 14,000. Elsewhere in the service-providing sector, professional and business services employment continued to trend up (+36,000).