US economy added a paltry 114,000 jobs in July, unemployment spikes to 4.3%
U.S. job growth slowed more than expected in July and the unemployment rate rose to 4.3%, raising concerns that the labor market could worsen and tip the economy into recession. In its closely watched jobs report released Friday, the Labor Department’s Bureau of Labor Statistics said nonfarm payrolls rose by just 114,000 last month after […]
U.S. Economy Added Just 114,000 Jobs in July, Unemployment Surges
The Labor Department said Friday that U.S. employers added 114,000 workers in July, helping push the unemployment rate up to 4.3%. Economists had expected 180,000 jobs and an unemployment rate of 4.1%. Disappointing employment growth and a sharp rise in the unemployment rate suggest the economy may be heading toward a recession. The unemployment rate […]
US job growth slows to 114K in July while unemployment unexpectedly jumps
Construction is booming in states such as Arizona, California, Florida and Texas. U.S. job growth slowed sharply in July and the unemployment rate unexpectedly rose to its highest level in nearly three years. The Labor Department said on Friday that employers 114,000 jobs The number of people employed in July rose by 15,000 year-on-year, short […]
Unemployment Rate Rising Despite Job Creation Due to ‘a Lot of Immigrants’ ‘Taking Jobs’
On CNBC’s “The Exchange” on Friday, Mark Zandi, chief economist at Moody’s Analytics, said the rising unemployment rate despite job creation is “because we have strong labor force growth and a lot of immigrants coming into the country looking for work.” Zandi said he believes the economy’s potential growth rate is much higher than most […]