The Labor Department released the unemployment report for July on Friday. It showed the U.S. economy produced 114,000 new jobs. The official July unemployment rate was 4.3%. Here are the relevant statistics for July:
SIZE OF THE CIVILIAN WORK FORCE:
168,429,000
OFFICIAL NUMBER OF UNEMPLOYED WORKERS:
7,163,000
OFFICIAL UNEMPLOYMENT RATE:
4.3%
DEMOGRAPHIC BREAKDOWN OF OFFICIAL UNEMPLOYMENT:
Adult men...............4.0%
Adult women...............3.8%
Teens (16-19)...............12.4%
Whites...............3.8%
Blacks...............6.3%
Asians...............3.7%
Hispanics...............5.3%
No HS diploma...............6.7%
HS graduate...............4.6%
Some college...............3.5%
Bachelor's deg. or more...............2.3%
NUMBER OF MARGINALLY-ATTACHED WORKERS (unemployed but not counted):
1,571,000
MORE REALISTIC NUMBER OF UNEMPLOYED WORKERS (official + marginally-attached):
8,734,000
MORE REALISTIC UNEMPLOYMENT RATE:
5.19%