The Two-Way
6:34 am
Fri August 5, 2011

Hiring Picks Up Slightly In July; Unemployment Drops To 9.1 Percent

U.S. employers added 117,000 jobs last month, according to new numbers from The Bureau of Labor Statistics. The unemployment rate dropped to 9.1 percent.

The AP reports:

The mild gain may ease investors' concerns after the Dow Jones industrial average plummeted more than 500 points over concerns that the U.S. may be entering another recession.

Still, the economy needs twice as many net jobs per month to rapidly reduce unemployment. The rate has topped 9 percent in every month except two since the recession officially ended in June 2009.

Economists were forecasting that the unemployment rate would stay at 9.2 percent and that employers would add only 90,000 jobs.

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