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)

Copyright 2016 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Top Videos