Unemployment Remains Steady at 3.7% for Second Month

The Labor Department has released its statistics for July. It shows that job creation was only a rather tepid 164,000. That was not even enough to take care of the 370,000 increase in the civilian workforce. That was not nearly enough to lower the unemployment rate. It remained at 3.7% for the second month in a row -- probably due to more people giving up on finding a decent job (and are no longer being counted by the government as unemployed).

Here are the relevant statistics for July of 2019:

SIZE OF THE CIVILIAN WORKFORCE:

163,351,000

OFFICIAL NUMBER OF UNEMPLOYED WORKERS:

6,063,000

OFFICIAL UNEMPLOYMENT RATE:

3.7%

DEMOGRAPHICS OF OFFICIAL UNEMPLOYMENT RATE:

Adult men...............3.4%
Adult women...............3.4%
Teens (16-19)...............12.8%
White...............3.3%
Black...............6.0%
Asian...............2.8%
Hispanic...............4.5%
Less than HS diploma...............5.1%
HS graduate...............3.6%
Some college...............3.2%
Bachelor's deg. or more...............2.2%

NUMBER OF MARGINALLY-ATTACHED UNEMPLOYED WORKERS (Not counted):

1,478,000

MORE REALISTIC NUMBER OF UNEMPLOYED WORKERS (official + marginally-attached):

7,541,000

MORE REALISTIC UNEMPLOYMENT RATE:

4.62%