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

1 hour ago in Viral Videos

It’s not Pitbull, it’s Amy Poehler

Fresh
amy

Do you think she fooled anyone?

1 hour ago in Entertainment

Oscar-winner Lupita Nyong’o named ‘most beautiful’

Fresh
people

The actress was named as the world's most beautiful woman for 2014 by "People" magazine.

today in Entertainment

‘Peeps’ coming to a big screen in marshmallow movie

peeps

The film focuses on the sugary confections as they prepare to be judged at the annual Peeps diorama contest.

today in Trending, Viral Videos

TODAY’S MUST SEE: Brian Williams raps ‘Gin & Juice’

birna

After he leaves the "NBC Nightly News," Brian Williams might have a future in music.

today in Entertainment

‘Ice Road Truckers’ star accused of kidnapping, beating Vegas woman

iceroad

A star of the reality TV show is due in court in Las Vegas to face first degree kidnapping, extortion and coercion charges.