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

Ray Rice wins appeal against NFL suspension

rayrice

The former Ravens running back has won an appeal and is now eligible to sign with any NFL team.

in Sports

This weekend’s sports schedule

floridastate

A complete look at this weekend's sports schedule.

in Sports

This week’s top sports shots

AP611561881101

A look at some of the biggest plays and best wins that happened this week in sports.

in National

Making headlines this week

AP40816308032

A look at the big newsmaker this week and the headlines you may have missed.

in Sports

Lions, Eagles, Seahawks have triumphant turkey day

lions

Philadelphia and Detroit both served up Thanksgiving Day routs while Seattle boosted their playoff hopes.