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

Today in entertainment history: Oct. 22

Fresh
beachboys2

A look back at the Hollywood headlines that went down in history.

in Viral Videos

WATCH: ‘Bohemian Rhapsody’ Halloween house

15-overlay4

The decorations and synchronized light display on this house is so impressive, we won't even ask for candy.

in Entertainment

Bryan Cranston laughs off ‘Breaking Bad’ toy controversy

breaking

A Florida mom wants action figures from the popular series banned from Toys 'R' Us stores.