Unemployment is low and hiring is strong. But what if you can’t get a job?

Hiring was stronger than expected in July, and the unemployment rate slipped to 4.3 percent — the 16-year-low last seen in May.

But that stuff doesn’t mean much if you’re out of a job and are having trouble finding a new one.

That’s still the story for lots of Americans, as a closer look at Friday’s employment report shows. While the unemployment rate and jobs gains tend to grab headlines, these other figures are often ignored:

  • Total number of unemployed Americans in July: 7 million.
  • Number of long-term unemployed (out of work 27 weeks or longer): 1.8 million. That number didn’t show much improvement from June to July, the government says.
  • Number of people working part time but wanting full-time work: 5.3 million, essentially unchanged last month.
  • Number of “discouraged workers” who are out of work and have given up on looking: 536,000. That number hasn’t budged in the last year.

Click here to read Mark Hamrick’s complete article published on the Bankrate website.

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