Job growth came in weak for the fourth straight month in July while the unemployment rate rose, according to a government report Friday that could give the Federal Reserve reason to pause in its two-year-old campaign to raise interest rates.
The economy added 113,000 jobs in July, the Labor Department said, down from a revised gain of 124,000 jobs in June. Economists surveyed by Briefing.com had forecast 145,000 new jobs.
Hold the presses. Last month, the number of jobs created was 121,000 and everyone, particularly President Bush, was saying that was good. A mere 8,000 jobs created is the difference that is going to tip Fed policy—I don’t think so.
Every month a crappy economy is dressed up in a different costume.
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