Economy Adds 162,000 Jobs


The Department of Labor’s monthly jobs report shows that the economy added 162,000 jobs in July. The unemployment rate fell to 7.4%. Many analysts were expecting about 180,000 jobs to be created. The Department also revised the May and June job numbers downward. This was the lowest jobs report since March, when about 138,000 jobs were added. There was more bad news in the job report. The labor force participation rate stands at 63.4%, which is largely unchanged. There are 2.4 million people marginally unattached to the economy. To be marginally unattached, one had to not have looked for work in the past four weeks, but also wants and is eligible for work. One must have, in addition, looked for work in the past year. Of those marginally unattached, nearly 1 million workers were classified as discouraged workers. The 988,000 workers are up from 852,000. Discouraged workers are those who had given up looking for work.

About Tyler

Tyler is the chief media reporter for TKNN, with the news organization since its founding in November of 2010. He has previously served as chief political reporter and chief political anchor for TKNN.

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