August 5, 2011
National Unemployment Down Slightly
The United States economy created 117,000 jobs in July, while unemployment dropped a tenth of a percentage point to 9.1 percent, according to the federal Bureau of Labor Statistics.
The results were an improvement over June and were slightly better than expected, which was good news compared to Thursday, when the Dow Jones Industrial Average dropped 500 points, its biggest loss since 2008.
BLS also reported that job creation figures for May and June were better than originally thought.
June job creation was revised from 18,000 to 46,000 and the May numbers were changed from 25,000 to 53,000.
Hourly earnings were up 0.4 percent to $23.13 per hour and average weekly work hours remained flat in July at 34.3 hours.
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