US creates 164K jobs in July; unemployment rate steady at 3.7%

The unemployment rate in the US in July remained unchanged at 3.7 per cent, even as 164,000 jobs were created in the month, according to a government report.

Hiring slowed sharply in transportation, warehousing and construction, but was steady in health care, the Bureau of Labour Statistics stated in its monthly employment situation report.

The non-farm payroll employment rose by 164,000 in July, and the unemployment rate was unchanged at 3.7 per cent, it said.

Soon after the report was released, the White House said the creation of 164,000 jobs was a sign that the American economy is "doing great".

Despite the continued low unemployment rates over the past year, there may still be workers on the sidelines, a situation economist refer to as "labor slack", it said.

"Because labor market slack still exists, employment can continue to rise and the economy can continue to grow as workers re-enter the labour force. In July, 73.8 percent of workers entering employment came from out of the ..