Unemployment falls to 7.4 percent, black joblessness hits low for the year | theGrio: WASHINGTON (AP) — Black unemployment fell from 13.7 to 12.6 percent, a low for the year. And black women also saw their best numbers in over a year. Joblessness for African-American women fell to 10.5 percent from 12.0 in June.
U.S. employers added 162,000 jobs in July, the fewest since March. The gains were enough to lower the unemployment rate to a 4-year low of 7.4 percent, a good sign in an otherwise lackluster report.
The Labor Department said Friday that unemployment fell from 7.6 percent in June as more Americans found jobs.
Still, the economy created 26,000 fewer jobs in May and June than previously estimated. Americans worked fewer hours in July, and their pay dipped. The figures suggest weak economic growth may be making businesses cautious about hiring.
Reaction to the jobs report on financial markets was slightly negative. Stock index futures gave up early gains and were little changed shortly after the report came out. The yield on the benchmark 10-year Treasury note fell to 2.64 percent from 2.71 percent as investors bought U.S. government bonds.
