U.S. Shed 131,000 Jobs in July, but Private Payrolls Grew; Jobless Rate Steady at 9.5%
With the American economic recovery hanging in the balance,
private employers added 71,000 jobs in July, down from 83,000
in June and below the consensus forecast of 90,000. The
unemployment rate remained steady at 9.5 percent.
Over all, the nation lost 131,000 jobs in July, more than
expected, as federal Census Bureau workers left their
temporary posts, and as state and local governments cut back
their work forces. The unemployment rate, which economists
predicted would rise to 9.6 percent, is driven in part by the
number of workers who re-enter the labor force to look for
work, a number that has bobbed around for several months as
job seekers alternately despair and renew their efforts to
find positions.
Global Freedom Technology Firm
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