Sign in to comment!

Menu
Home

Economy

US employers add 162K jobs as unemployment rate falls to 7.4 percent, lowest since Dec. 2008

U.S. employers added 162,000 jobs in July, the fewest since March. But the gains were enough to lower the unemployment rate to a 4 ½ -year low of 7.4 percent.

The Labor Department says the rate fell from 7.6 percent in June. But that was one of the few good signs in an otherwise lackluster report.

Fewer jobs were added in the previous two months than earlier estimated. Americans worked fewer hours and their pay dipped. The figures suggest weak economic growth may be making businesses cautious about hiring.

The Federal Reserve will pay particularly close attention to the figures as it decides whether to scale back its $85 billion monthly bond purchases later this year.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.99% -- 3.99%  
15 Y Fixed Graph 3.09% dw 3.10%  
30 Y Fixed Jumbo Graph 4.21% up 4.17%  
5/1 ARM Graph 3.20% dw 3.22%  
5/1 Jumbo ARM Graph 3.50% up 3.44%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.30% up 4.27%  
$50K HELOC Graph 3.97% up 3.95%  
$30K Loan Graph 4.99% -- 4.99%  
$50K Loan Graph 4.34% -- 4.34%  
$75K Loan Graph 4.36% -- 4.36%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.94% dw 2.95%  
36 M Used Graph 3.48% dw 3.49%  
48 M New Graph 3.19% dw 3.23%  
48 M Used Graph 2.99% dw 3.05%  
60 M New Graph 3.19% dw 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% dw 0.40%  
1 yr Graph 0.70% -- 0.70%  
5 yr Graph 1.55% up 1.54%