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U.S. Employers Shed Jobs

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LUCA DI LEO and JEFF BATER
Wall Street Journal
Friday, August 6, 2010

U.S. Employers Shed Jobs OB JM544 Nonfar G 20100806111438Private payrolls increased in July, but the growth was tepid.

The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

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Nonfarm payrolls fell by 131,000 last month as the rise in private-sector employment was not enough to make up for the government jobs lost, the U.S. Labor Department said Friday. Only 71,000 private-sector jobs were added last month while 143,000 temporary workers on the 2010 census were let go.

Economists polled by Dow Jones Newswires were expecting total nonfarm payrolls to drop by a smaller 60,000 in July.

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This article was posted: Friday, August 6, 2010 at 8:20 am





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