Unemployment Breaking News: US Employers Add 162K Jobs, Rate Falls to 7.4 %

Wochit 0:54 mins

U.S. employers added 162,000 jobs in July, the fewest since March. The gains were enough to lower the unemployment rate to a 4? -year low of 7.4 percent, a good sign in an otherwise lackluster report. Employers slowed their pace of hiring in July but the jobless rate fell anyway, mixed signals that could make the U.S. Federal Reserve more cautious about drawing down its huge economic stimulus program. The number of Americans filing new claims for unemployment benefits fell unexpectedly last week, touching a 5-1/2 year low, suggesting a steadily improving labor market.

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