Labor Department: Unemployment rate rose to 8.3% in July as 163,000 non-farm jobs were added
AP Graphics Bank
Posted: 08/03/2012
WASHINGTON (AP) - U.S. employers added 163,000 jobs in July, a hopeful sign after three months of sluggish hiring.
The Labor Department says the unemployment rate rose to 8.3 percent from 8.2 percent in June.
July's hiring was the best since February. Still, the economy has added an average of 151,000 jobs a month this year, roughly the same as last year's pace. That's not enough to satisfy the 12.8 million Americans who are unemployed.
The rate increased because the government uses two surveys: A survey of businesses showed job gains, but a survey of households showed fewer people had jobs. Economists say the business survey is more reliable.
High unemployment could hurt President Barack Obama's re-election hopes. No president since World War II has faced re-election with unemployment over 8 percent.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
PRINT
Top Money Headlines
-
She says cell carrier let her down
Can you hear me now. That is exactly what one cell phone customer found herself asking over and over again. Terry Sapp told our Taking Action reporter Jackie Callaway she simply could not get service of any kind from her carrier.
-
Kmart unleashes another near-profane ad
-
4 credit score myths that are not true
-
RECALL: Cadillac SUV wheels may fall off
-
Consumer Reports: Best & worst airlines
-
Good news: Used car prices finally drop
