The unemployment rate fell 0.2 percentage point to reach 7.4 percent in July, after holding at 7.6 percent for two months. The 7.4 percent level is the lowest one for the unemployment rate since November 2008. After ticking up 0.1 percentage point to reach 63.5 percent in June, the labor force participation rate gave back 0.1 percentage point in July to reach 63.4 percent.

Unemployment and Labor Force Participation Rates, monthly, percent, seasonally adjusted