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

Minnesota Legislature Continues Budget Discussion

money 100

Minnesota legislative Democrats and Republicans continue to seek common ground as they work to balance the state budget for the next two years.

in Local

Emerald Ash Borer Found in Dallas County

snow on trees

Emerald Ash Borer has been found in another Iowa County.

in Local

Nebraska Continues Death Penalty Debate

prison

Nebraska lawmakers debated and passed a bill that would repeal the state's death penalty law.

in Local

Bill to Repeal Mandatory Prison Sentences Passes Nebraska Legislature

nebraska-state-capital

Nebraska legislators have advanced a bill that would scrap mandatory minimum prison sentences and the habitual criminal statute.

in Local

Red Cross Takes Fire Prevention To Homes

american red cross

The American Red Cross recently made a few house calls in Yankton.