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- U.S. employment rises less than expected in July
U.S. employment rises less than expected in July
Employment
in the
The Labor
Department said non-farm payroll employment increased by 162,000 jobs in July
following a downwardly revised increase of 188,000 jobs in June.
Economists
had expected employment to increase by about 175,000 jobs compared to the
addition of 195,000 jobs originally reported for the previous month.
Despite the
weaker than expected job growth, the unemployment rate dipped to 7.4 percent in
July from 7.6 percent in June. The unemployment rate had been expected to edge
down to 7.5 percent.
With the
bigger than expected decrease, the unemployment rate fell to its lowest level
since hitting 7.3 percent in December of 2008.
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