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.

Latest Stories

in Albemarle County, Charlottesville City, Local, Surrounding Counties

Nine Central Virginians Indicted on Long List of Drug and Gun Charges

gavel

The group intended to distribute 280 grams of crack cocaine as well as heroin

in Sports

This week’s top sports shots

AP120136234351_0

A look at the biggest stories and best photography in sports this week.

in Sports

This weekend’s sports schedule

bosox

A complete look at this weekend's sports schedule.

in National

Making headlines this week

AP551405499326_2

A look back on the news that made headlines this week and the stories you won't forget.

in Entertainment

Want to smell like Tara Reid? No? Well now you can anyway

tarareid

Because everyone wants to smell like a B-list star battling sharks in an low-budget sci-fi film, there's "Shark by Tara."