Unemployment Dips To 9.1% In July.


 By CHRISTOPHER S. RUGABER AP Economics Writer
 WASHINGTON August 5, 2011 (AP)

Hiring picked up slightly in July and the unemployment rate dipped to 9.1 percent, an optimistic sign after the worst day on Wall Street in nearly three years.

The Labor Department says employers added 117,000 jobs last month. That’s an improvement from the past two months.

The mild gain may ease investors’ concerns after the Dow Jones industrial average plummeted more than 500 points over concerns that the U.S. may be entering another recession.

Still, the economy needs twice as many net jobs per month to rapidly reduce unemployment. The rate has topped 9 percent in every month except two since the recession officially ended in June 2009.

The unemployment rate fell partly because some unemployed workers stopped looking for work. That means they are no longer counted as unemployed.

Advertisements

Posted on August 5, 2011, in Uncategorized. Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: