The US monthly job report is out for July and based on the numbers, it looks like good news for the president and bad news for his White House challenger, Mitt Romney.
U.S. employers added 163,000 jobs in July, a hopeful sign after three months of sluggish hiring.
The Labor Department said Friday that the unemployment rate rose to 8.3 percent from 8.2 percent in June.
July’s hiring was the best since February. Still, the economy has added an average of 151,000 jobs a month this year — enough to keep up with population growth but not enough to drive down the unemployment rate.
“After a string of disappointing economic reports … we’ll certainly take it,” said James Marple, senior economist at TD Economics.
The government uses two surveys to measure employment. A survey of businesses showed job gains. The unemployment rate comes from a survey of households and is calculated by dividing the number of unemployed people by the size of the labor force. In July, more people said they were unemployed, while the size of the labor force shrank even more.
Economists say the business survey is more reliable.
Read/learn more at Yahoo News.
Want to read more articles like this one? Subscribe to EURnewsletter.
Got A News Tip or Video You Want to Share? Contact us HERE.
- Oh God: Johnny Depp Nails 'The Donald' in Funny or Die Video (Look!)
- Will Smith Calls Son Jayden 'Fearless' for Rockin' Women's Clothes
- Lakatriona Brunson: Florida’s First Female Head Football Coach
- Justice Dept. Sues City of Ferguson Over Pattern of Police Abuse
- Ruben Studdard, Fantasia Barrino Return to 'American Idol' This Week
- Kardashians Call Depiction in ‘People v. OJ’ Ep 2 ‘Ridiculous’
- Drama at ‘Fashion Police’ Between NeNe and Giuliana?
- Claudia Jordan, Jennifer Williams: Shots Fired Hours Before ‘The Next 15’ Premiere
- Ciara Cheered, Russell Wilson Booed at Knicks Game
- BET Names Brie Miranda Bryant SVP of Unscripted Programming
- Discover More Stories on EURweb: Click Here