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

6 hours ago in Entertainment

‘Oregon Trail,’ ‘Sonic’ join World Video Game Hall of Fame

videogamehall2016AP

Last year, "Super Mario Bros." and "Pong" were among the first inductees to the World Video Game Hall of Fame. The class of 2016 is just as strong.

10 hours ago in Entertainment

Seth MacFarlane returning to Fox with new sci-fi series

sethmacfarlane536713938826

The "Family Guy" star is producing a new series set 300 years in the future.

11 hours ago in Music

Corey Taylor lands ‘Sharknado’ role

coreytaylor61861556506

The Slipknot star joins other musicians - including Wayne Newton and Vince Neil - in the upcoming SyFy channel movie.

13 hours ago in Entertainment

Channing Tatum bringing ‘Magic Mike’ to Sin City

20-overlay-3

The actor, who starred and produced in both the 2012 film and its 2015 sequel "Magic Mike XXL" made the announcement in a Facebook Live video on Wednesday, revealing "Magic Mike Live" will be coming to the Hard Rock Hotel and Casino in March, 2017.

13 hours ago in Entertainment

YouTube plans online TV service

youtubeREUTERS

YouTube is working on a paid subscription service called Unplugged that would offer customers a bundle of cable TV channels streamed over the Internet.