Jobs Recovery Slowing Down

By CBS News

Published 08/01 2014 07:56AM

Updated 08/01 2014 08:00AM

WASHINGTON, DC -- The U.S. economy added 209,000 jobs in July, the Labor Department said Friday. The unemployment rate edged up to 6.2 percent.

Economists had predicted 225,000 new jobs created, according to a survey by data provider FactSet. In June, stronger-than-expected employment numbers surprised Wall Street and economist when the Labor Department said a revised 298,000 jobs had been created.

The economy strengthened significantly during the April-June quarter, the government said Wednesday, after contracting sharply in the first three months of the year. Last quarter's bounce-back assuaged fears that the economy hadn't been strong enough to support this year's rapid hiring.


(CBS News)

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