BREAKING NEWS

US companies add only 71,000 jobs in July

By ASSOCIATED PRESS

AUGUST 6, 2010 18:54

WASHINGTON — Companies showed a lack of confidence about hiring for a third straight month in July, making it likely the US economy will grow more slowly the rest of the year. The unemployment rate was unchanged at 9.5 percent.

Private employers added a net total of only 71,000 jobs in July, far below the roughly 200,000 needed each month to reduce the unemployment rate.

The modest gains were even weaker when considering a loss of government jobs at the local, state and federal levels in July that weren't temporary census position. Factoring those in, the net gains were only 12,000 jobs, according to the Labor Department's July report Friday.

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