News

Employers add 162K jobs, unemployment rate falls

Employers add 162K jobs, unemployment rate falls

U.S. employers added 162,000 jobs in July, the fewest since March. Photo: Associated Press

WASHINGTON (AP) — U.S. employers added 162,000 jobs in July, the fewest since March. But the gains were enough to lower the unemployment rate to a 4 ½ -year low of 7.4 percent.

The Labor Department says the rate fell from 7.6 percent in June. But that was one of the few good signs in an otherwise lackluster report.

Fewer jobs were added in the previous two months than earlier estimated. Americans worked fewer hours and their pay dipped. The figures suggest weak economic growth may be making businesses cautious about hiring.

The Federal Reserve will pay particularly close attention to the figures as it decides whether to scale back its $85 billion monthly bond purchases later this year.

Recent Headlines

in Music

Fans, family mark 20th anniversary of Jerry Garcia’s death with #RippleEffect

Fresh
20-overlay1

The daughter of late the Grateful Dead frontman has launched a global art project to honor her father.

in Sports

SEC spares no expense in hiring 14 new coordinators

Fresh
muschamp

Coaches around the Southeastern Conference have had to do a little extra homework on opposing coordinators during the offseason.

in Music

Judge dismisses Kurt Cobain death scene photos case

Fresh
francesbeancobain

A judge in Seattle has dismissed efforts by a TV host to release photographs of Kurt Cobain's death scene.

in Lifestyle, Weird

‘Star Trek’ style elevators coming to a house near you

Fresh
16-overlay

A futuristic elevator that fits neatly into the corner of a room and moves between floors of a standard home could present a more attractive proposition than the traditional stairlift.

in Sports

Blatter gives up IOC membership as FIFA exit nears

Fresh
fifa

FIFA President Sepp Blatter was relieved of his International Olympic Committee ex officio membership on Monday, seven months before he will be replaced as the head of soccer's governing body.