July 2013 US jobs miss, 162K vs 185 expected, June 2013 revised down, part time workers who need full time work unchanged; 37,000 more dropped out of labor force

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8/2/13, "Payrolls Miss 162K vs 185K Expected, June Revised Lower To 188K; Unemployment Rate 7.4%," Zero Hedge

"So much for the trends of beats: July nonfarm payrolls +162K missing expectations of 185K; June was revised lower to 188K and the unemployment rate dips from 7.5% to 7.4%. The rate dropped because the civilian labor force declined from 155,835 to 155,798 or 37K, driven by an increase of people not in labor force to 89,957 - just shy of the all time high. This also means that the labor force participation rate once again ticked down to 63.4% from 63.5%."...BLS Household Data

"The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was essentially unchanged at 8.2 million in July. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)"...

 chart from Zero Hedge
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