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 Sports

CEO: Clippers will lose players if Sterling stays

Fresh
sterling

The L.A. Clippers CEO says the team could face an exodus of players, sponsors, and fans if embattled owner Donald Sterling is still associated with the team.

in National

California firm issues nationwide fruit recall

Fresh
peaches

Fresh peaches, plums, nectarines, and pluots sold at major retailers including Kroger and Costco are being recalled over concerns of possible listeria contamination.

in National

Court rulings create new uncertainty over Obamacare

Fresh
obamacare

Two courts injected new uncertainty into the future of Obamacare, with conflicting rulings on whether the government can subsidize health insurance.

in National

Last victim of deadly Washington mudslide found

Fresh
mudslide

Search teams in Washington State have found the remains of a person thought to be the last victim of a mudslide that buried an entire community in March.

in Sports

‘Johnny Football’ has a month to win Browns QB job

manziel

Johnny Manziel has found instant popularity since being drafted by the Cleveland Browns, but will have to wait until to find out if he has the starting quarterback job.