Unemployment rate dips, economy adds 117K jobs

(AP) - Hiring picked up slightly in July and theunemployment rate dipped to 9.1 percent, an optimistic sign afterthe worst day on Wall Street in

WASHINGTON - (AP) - Hiring picked up slightly in July and theunemployment rate dipped to 9.1 percent, an optimistic sign afterthe worst day on Wall Street in nearly three years.

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

The mild gain may ease investors' concerns after the Dow Jonesindustrial average plummeted more than 500 points over concernsthat the U.S. may be entering another recession.

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

The unemployment rate fell partly because some unemployedworkers stopped looking for work. That means they are no longercounted as unemployed.

advertisement | advertise on News 12

Trending Video

1 New Jersey Sportscast, March 27
Caleb 'Kai the hitchhiker' McGillvary tells News 12 2 Lawyer files motion to dismiss murder charges against viral video star
Decision expected this afternoon on possible Westminster Choir 3 Decision expected on possible Westminster Choir College closing
LeRoy Boyd is accused of holding his girlfriend's 4 Man who allegedly held child hostage charged with kidnapping
News 12 New Jersey - Weather On The 5 New Jersey Weather Forecast

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE