Job creation slows down, unemployment rises slightly in July; Microsoft ordered to hand over data in Ireland
More than 200,000 jobs were created for the sixth straight month in July. The Labor Department reported that 209,000 jobs were created last month. That’s below the 233,000 jobs economists had anticipated. It was also fewer than the revised 298,000 jobs created in June. Unemployment rose to 6.2% from last month’s 6.1%. Economists expected unemployment to remain at 6.1%.
Auto sales are rolling in this morning, with U.S. automakers showing their best July sales figures in several years. Jeep brands continued to drive Chrysler sales higher. Chrysler posted a 20% jump in sales, the company’s best July since 2005. Ford (F) sales rose 10% for its best July since 2006, with the help of its Escape and Fusion models. Sales of crossovers and trucks helped General Motors (GM) sales rise 9%, giving the company its best July since 2007.
A federal judge has upheld a ruling that orders Microsoft (MSFT) to turn over a customer's email and other information that's stored in a data center in Ireland. Microsoft argued that because the data is kept in another country, U.S. rules do not apply there. Apple (AAPL), AT&T (T) and Verizon (VZ) were among the companies that wrote briefs in support of Microsoft. The warrant is sealed, so information about the federal agency that issued the warrant and target of the warrant aren't public. The judge issued a temporary stay on the order so Microsoft can appeal the ruling.
