Note to Washington: First, do no harm to JOBS
U.S. Payrolls Rose 117,000 in July; Jobless Rate Fell to 9.1%
Payrolls rose by 117,000 workers after a 46,000 increase in June that was more than originally estimated, Labor Department data showed today in Washington. The median estimate in a Bloomberg News survey called for a July gain of 85,000. The jobless rate dropped to 9.1 percent as more Americans left the labor force, while average hourly earnings climbed 0.4 percent.
But job gains may need to accelerate further to increase consumer spending, which rose last quarter at the slowest rate in two years.
The unemployment rate was forecast to hold at 9.2 percent, according to the survey median. Estimates ranged from 9.1 percent to 9.4 percent.
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
301 Main Street
Baton Rouge, LA 70802
P.O. Box 44154 Capitol Station
Baton Rouge, LA 70804-4154
One American Place, 7th Floor
Corner of North Street & 4th Street
Exit 1D I-110 North Street / Capitol Park / Downtown