Payrolls up by 1.8 million. Unemployment down to 10.2%.
In other words, despite the huge range, numbers came in right at expectations.
1.8 million is a lot of jobs, but that's still a clear slowdown in job gains.
1.8 million is a lot of jobs, but that's still a clear slowdown in job gains.
Labor force participation is essentially flat, but EPOP is up by 0.5 points to 55.1%.
A very nice sign is that the number of unemployed workers who were permanent job losers was essentially flat at 2.9 million. Still elevated, but not ticking up.
Employment is still 8% below its February level. 1.8 million jobs isn't V-shaped recovery speed. 
Leisure and hospitality employment is down a quarter from February levels. It's an industry sector directly in the line of the virus.
But information, a higher-wage industry not directly impacted, is now the 3rd most impacted industry sector.
But information, a higher-wage industry not directly impacted, is now the 3rd most impacted industry sector.
Permanent job loss has flatlined, while temporary layoff unemployment shrinks.
Job finding took a tumble in July, while moves out of employment rose a bit. Net job gains are up, but the churn underneath is heading in the wrong direction,
Another nice sign: core unemployment is heading down.
The vast majority of the payroll gains in July were in lower-wage industries
The rate of involuntary PTER is now below peak-Great Recession levels.
That's what's considered progress these days in the labor market: not as bad as the "once in a generation" economic crisis.
That's what's considered progress these days in the labor market: not as bad as the "once in a generation" economic crisis.
Job loss picked up in July and more of those moves were to out of the labor force
Job gains are happening in industries more sensitive to the virus and efforts to contain it.
Don't control the virus and further gains are going to be very difficult.
Don't control the virus and further gains are going to be very difficult.
