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July Jobs Report Shows the Recovery Broadening Out to Those Left Behind

Unemployment among those without high school education falls to record low.
Bloomberg business news

U.S. Adds 255,000 Jobs in July, Jobless Rate at 4.9%

July's surprisingly strong U.S. nonfarm payrolls report, with employment rising by 255,000, also showed that the low end of the labor force gained strength at a rapid pace.

"The strong increase in labor force participation and drop in unemployment for 3 proxies of low-end services employment—Hispanics, teens, and those with less than a high school diploma—suggest that this was the best month for cheap labor of this expansion," said Conor Sen, a Bloomberg View contributor and portfolio manager at New River Investments.