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 Entertainment

It’s been 30 years since ‘The Cosby Show’ debuted

cosby

Here are some of our favorite moments from one of America's favorite TV families.

in Entertainment

Jennifer Garner’s life ‘too boring’ for Instagram

jennifer

The "Dallas Buyers Club" actress is adamant she won't join her husband, actor Ben Affleck, on Twitter either.

in Music

John Legend meets Lee Ann Womack on ‘Crossroads’

legend

The R&B hitmaker teams up with a country music legend for the latest edition of musical mashup show "Crossroads."

in Music, Sports

Vince Gill named best golfer in music

vincegill

Gill beat out other country stars Kip Moore and Jake Owen to be named the best on the golf course.

in Trending, Viral Videos

TODAY’S MUST SEE: ‘The Voice’ vs. Jimmy Fallon

22-overlay1

Jimmy Fallon is back with another lip sync battle, but this time he faces off against two of music's biggest names.