The US economy added 209,000 jobs in July, more than expected, while the unemployment rate returned to a 16-year low of 4.3%, the Labor Department said in a report Friday.
Jobless claims unexpectedly decreased to the lowest level since 1973, indicating the U.S. labor market remains a pillar of support in the world’s largest economy. New applications for unemployment benefits fell by 6,000 to 247,000 in the week ended April 16, data from the Labor Department showed Thursday. The median forecast of economists surveyed by…Details
However, hiring is slowing down. The U.S. economy added only 151,000 jobs in January. That is way down from December when the economy gained 262,000 jobs. Economists surveyed by CNNMoney projected that the economy would create 197,000 new jobs last month. The job market has been a bright spot in America’s recovery from the Great…Details