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US employers add 157,000 jobs, jobless rate hits 3.9 pct.

US employers add 157,000 jobs, jobless rate hits 3.9 pct.


PTI 03 Aug 2018, 12:38 PM United States

US employers slowed their hiring in July, adding 157,000 jobs, a solid gain but below the healthy pace, they maintained in the first half of this year.

The Labor Department says the unemployment rate ticked down to 3.9 percent from 4 percent. That's near an 18-year low of 3.8 percent reached in May.

Employers added an average of 224,000 new workers in the first six months of this year, a faster pace than in 2017. The pickup has impressed many economists because it's happening late in the economic expansion, which has entered its 10th year and is now the second-longest in US history.

The economy grew in the April-June quarter at its fastest pace in four years. Business and consumers are optimistic, suggesting solid hiring is likely to continue.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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