Jobless Rate Drops to 7.4%, but Job Growth Still Lags

August 6, 2013
By Mike Hall  Re-Printed

The nation’s economy added 162,000 new jobs in July and the jobless rate dropped to 7.4% from June’s 7.6%, according to figures released this morning by the U.S. Bureau of Labor Statistics.

William Spriggs, AFL-CIO chief economist, said today’s job numbers “continue to show a very mild recovery, but they fell below expectations and are disappointing.”

While the 162,000 new jobs were below the 195,000 added in June, this month is the 40th straight month of tepid job growth—albeit at a rate too slow to fuel a healthy jobs recovery.

August 6, 2013

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