NEW YORK (Aug 7) - The July jobs report surprised, beating expectations and printing up 1,763,000 new jobs, above a consensus estimate of 1,600,000 jobs.
Revisions for May (+26,000) and June (-9,000) netted an additional 17,000 more jobs.
The seasonally adjusted unemployment rate ticked down 90 bps to 10.2%, down from 11.1% in May. It is was 6.5 percentage points worse than last year. Fewer workers returned to the workforce in July, as the participation rate went from 61.5 to 61.4. The workforce continues to be substantially lower than last year, with 3.503 million fewer