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

in Local

Tourism Booming in Springfield and Illinois, Despite “Elephant in the Room”

Fresh
7-28-15 Illinois Tourism

Tourism remains one of the biggest industries in the state of Illinois, and it keeps getting bigger.

in Local

Man Killed by Prostitute in W. Va. Could Have Ties to 2005 Divernon Case

Fresh
oregon

Neal Falls of Springfield, Oregon was killed earlier this month in Charleston, West Virginia when he tried to kill a woman he met online.

in Local

Arrest Made in Sunday Shooting

gun

A man accused of shooting a Springfield man late Sunday night has turned himself in.

in Local

House Votes to Cancel Legislator Pay Raises

state_capitol_4

The pay-raise issue has become a flashpoint in the budget stalemate.

in Local

Below Average Rainfall Not Enough to Save Some Crops

corn

The rain let up, but it's too late to save some of Illinois' crops.