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US adds 209,000 jobs in July, unemployment rises to 6.2%

AFP

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The US economy generated 209,000 new jobs in July, down from June but maintaining a solid 200,000-plus monthly streak since February, the Commerce Department said Friday.

The unemployment rate, rose a mere 0.1 point to 6.2 percent, still near its lowest level since October 2008 and well down from the 7.9 percent at the start of 2013.

The new jobs were well-spread between the construction, manufacturing, professional service and retail sectors, and got a boost as well from 11,000 new jobs in the government sector.

Nevertheless, the number of unemployed rose by nearly 200,000 to 9.67 million, in part because of the constant increase in the number of working-age Americans, as well a return to the labor force by tens of thousands of people who had previously dropped out and were not counted as unemployed.

Average weekly earnings ticked up only slightly, suggesting, as the Federal Reserve said Wednesday, that there is still slack in the labor market despite the steady gains in job creation.

Date created : 2014-08-01