U.S. Employers Added 255,000 Jobs In July
Saturday, August 6th, 2016 -- 7:28 AM
U.S. employers added a healthy 255,000 jobs in July, a sign of confidence in the economy that will likely ease concerns about signs of weak growth in the midst of the presidential race.According to the Associated Press, the unemployment rate remained a low 4.9 percent, the government said Friday in its monthly jobs report. Many more Americans began looking for a job, and nearly all were hired. But the influx of job seekers meant that the number of unemployed fell only slightly. The figures suggest that employers were unfazed by either Britain's late-June vote to quit the European Union or the U.S. economy's tepid growth in the first half of the year: Just 1 percent at an annual rate.
Most analysts expect the solid hiring to fuel an economic rebound in the second half of this year, with more paychecks and higher pay fueling spending and growth. A sharp fall-off in hiring in May, when only 24,000 jobs were added, had spurred fears about an economic slowdown. But job growth roared back in June with a gain of 292,000. July's increase provided further evidence that May's slowdown was likely temporary.
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