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.

Latest Stories

in Entertainment

Tracy Morgan settles suit with Walmart over fatal crash

tracymorgan

The "SNL" star sued the retail giant over a semi crash that killed one man and left Morgan and two friends seriously injured.

in Entertainment

LiLo is (finally) finishing her community service

lindsaylohan

The "Mean Girls" star had to log 125 hours before May 28 after a judge rejected her previous effort.

in Music

U2’s longtime road manager dead as band prepares for L.A. shows

U2

The tour manager worked with the band for more than three decades.

in Entertainment

Bob Barker is a boss at retirement

11-overlay6

The former "Price is Right" host and avid animal lover says he is a "complete success" at retirement, and is enjoying his free time.

in Entertainment

Want something sold? Get Liam Neeson to pitch it

liamneeson

The "Taken" star has edged out fellow Irish actor Pierce Brosnan to be named the most effective celebrity pitchman.