On Friday, the Dept. of Labor released July’s jobs report. 163,000 new jobs were added to the economy, more than doubling June’s weak report and far surpassing the expected 100,000.
The unemployment rate increased slightly to 8.3% due to an increase of people looking for work which, counter-intuitively, is a good thing as it shows an increased confidence that there is work to be had.
The private sector actually added 172,000 jobs but, once again, the public sector lost 9000 jobs lending further evidence that austerity measures are hurting the recovery.
Read a more detailed breakdown here.
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