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

2 hours ago in Local

Another Day, Another Leaders’ Meeting

Illinois Gov. Bruce Rauner delivers his inauguration address Monday, Jan. 12, 2015, in Springfield, Ill., after being sworn in as Illinois' 42nd governor.

The four legislative leaders are now meeting daily with Gov. Bruce Rauner in his office.

3 hours ago in Local

House Re-Votes on Budget; Passes Again

Under the Capitol Dome

The mood was a little more tempered, but the votes remained the same.

5 hours ago in Local

U of I Goes Inside for “Branding”

illinois logo

A public relations firm hired to develop a branding plan for the University of Illinois' flagship campus has been replaced by a school committee.

5 hours ago in Local

CPS Chief Leads Capitol Rally

Chicago Public Schools

The head of Chicago Public Schools says the district has "reached the point of no return" and faces severe cuts without "equal" funding from the state.

6 hours ago in Local

Rauner Not Paying Much Attention to Wednesday’s Budget Vote

10-16-15 Rauner Langfelder 10th St Corridor

Outwardly, Gov. Bruce Rauner seems to be taking the state's most important matters in stride, a day after the Speaker of the House dissed his “working groups” and then engineered a budget vote controversial in many ways.