Monthly unemployment figures are in for July, showing the US economy to have added an estimated 209,000 jobs. The nation’s unemployment rate increased to 6.2 percent, up from 6.1 percent in June, according to the Bureau of Labor Statistics.
The July figure marks the sixth straight month of job growth greater than 200,000. However, the number is a disappointing one for many economists. Those polled by MarketWatch ahead of the release of the report had predicted a closer to 235,000 new hires. The monthly private survey from payroll processor ADP released earlier this week showed 218,000 jobs to have been added.
The increase in the unemployment rate from June reflects an uptick in the number of people looking for jobs. The labor force participation rate is now at 62.9 percent. That figure had previously read 62.8 percent.
The U6 unemployment figure, which measures those who work part-time but would prefer to work more, as well as those who would like to work but are not actively looking for a job, ticked up from 12.1 percent in June to 12.2 percent. The number of involuntary part-time workers was essentially unchanged from June, at 7.5 million.
The July figure follows a strong, though not without its warts, June report that saw the nation add 298,000 jobs—an upward adjustment from the previous estimate of 288,000.
In June, Massachusetts added 3,700 jobs, bringing the state’s unemployment rate down to 5.5 percent. July’s state-by-state figures will be released later in August.
This article will be updated with more information.