New Data: Less Unemployment and More Payrolls

The Labor Department said today that the U.S. economy has added more jobs than expected in July and the unemployment rate is down slightly, data that should help ease spreading concerns that a new recession may be around the corner. Nonfarm payrolls rose by 117,000 in June as private-sector employers added 154,000 jobs. Payroll data for the previous two months were revised up by a total 56,000 to show increases of 46,000 jobs in June and 53,000 in May. Source: WSJ.com