The Gallup Good Jobs (GGJ) rate rose nearly a percentage point to 47.0 percent in July, from 46.3 percent in June. The GGJ rate now ties the highest point for the measure since 2010, 47.1 percent in July of last year. The increase in the July GGJ rate is not unexpected, as the measure typically rises between the spring and summer months, peaking in June or July. The measure has risen each year, from the onset of spring in March to July, since Gallup began tracking the measure in 2010.
At 47.0 percent, the July GGJ rate is more than five percentage points higher than the all-time low for the measure, 41.7 percent in February 2011. That low point occurred as the economy was still recovering from the effects of the Great Recession.
Workforce participation fell slightly to 68.2 percent in July, from the record-high 68.6 percent in June.
Gallup's unemployment rate fell to 4.8 percent in July from 5.2 percent in June. July's 4.8 percent is a new low, though effectively equivalent to last November's 4.9 percent.
Additionally, the July rate is down slightly from the same month last year, when the unemployment rate was 5.1 percent.
Gallup's measure of underemployment fell almost a percentage point to 12.5 percent in July, down from 13.6 percent in June. This rate effectively matches the prior record lows of 12.7 percent in July and October of last year.
This is the last report of the good jobs rate. Gallop will no longer be producing it going forward.
Gallup tracks daily the employment status of the U.S. population and the workforce. Based on an individual's responses to the question series, Gallup classifies respondents into one of six employment categories: employed full time for an employer; employed full time for self; employed part time, but do not want to work full time; employed part time, but want to work full time; unemployed; and out of the workforce. The data are based on a nationally representative sample of 29,000 interviews, including 18,000 in the workforce. Daily results reflect 30-day rolling averages.
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