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

Cosby to be deposed in sexual abuse lawsuit


Bill Cosby was expected to testify under oath in a lawsuit brought by a woman accusing the veteran comedian of sexual abuse.

in Entertainment

OPENING WEEKEND: Biopic ‘Steve Jobs’ competes against ‘Pan,’ ‘The Walk’


Here's a look at the movies set to open nationwide this weekend.

in Viral Videos

WATCH: Soldier breaks rank to hug daughter at homecoming


Top brass at a Colorado Army post are all smiles after a 2-year-old girl interrupted a general's speech to dash across the room and hug her dad, who had just come home from a nine-month deployment.