This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6929715.stm
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| US adds fewer jobs than expected | US adds fewer jobs than expected |
| (30 minutes later) | |
| Employers in the US added 92,000 new jobs in July, the lowest rate of employment since February, Department of Labor numbers show. | Employers in the US added 92,000 new jobs in July, the lowest rate of employment since February, Department of Labor numbers show. |
| In a further discouraging sign of the pace of economic growth, the national unemployment rate rose to its highest level since the start of the year. | In a further discouraging sign of the pace of economic growth, the national unemployment rate rose to its highest level since the start of the year. |
| The 4.6% unemployment rate in July was the highest since a similar 4.6% rate in January. | The 4.6% unemployment rate in July was the highest since a similar 4.6% rate in January. |
| In addition, for the first time in 18 months the government cut hiring. | |
| The disappointing figures will not help ease the worries over the outlook for the economy, prompted by the deepening crisis in the county's sub-prime mortgage sector that is shaking markets. | |
| "If you already got a dip as far as employment goes and unemployment is edging up, the question is - what's next month's number going to look like when subprime and credit jitters really start to rear their ugly head," said Alan Lancz, president at Alan B. Lancz & Associates. | |
| Discouraging | |
| The pace of employment in July was the slowest since February, when 90,000 jobs were added to the US economy. | |
| Job growth was heavily supported by the service sector, which added 104,000 jobs, while industry continued its downward spiral and was forced to shed 12,000 positions. | |
| Estimates of job creation in May and June were also revised downwards. | Estimates of job creation in May and June were also revised downwards. |
| The Labor Department said there were 6,000 fewer jobs created in June than the 132,000 reported previously. A month earlier 188,000 jobs were created - 2,000 fewer than estimated. | |
| The US economy grew by 3.4% in the three months to June, which was faster than expected, but other more recent economic indicators regarding consumer spending and house building have been disappointing. |