News Alert: U.S. Economy Added 117,000 Jobs in July; Rate Falls to 9.1% (266 hits)
Friday, August 5, 2011
Amid signs that the United States economy continued to wobble, employers added 117,000 jobs in July, the Labor Department reported on Friday. That figure, the strongest performance since April, was not high enough to assuage fears of a renewed recession. But it did give some cause for optimism during a tumultuous time for the economy. Unemployment fell a notch, to 9.1 percent from 9.2 percent.
The Labor Department also revised its estimate of job growth in June to 46,000 from the previously reported 18,000. The latest employment reading came as investors are showing an escalating unease with the world economic outlook, with stocks on Wall Street falling by more than 4 percent on Thursday alone and 10 percent over the last two weeks.
