US job growth slows more than expected

Reuters

The US economy added than 157.000 jobs in the July – 33,000 less than expected and significantly below the 248,000 created in June.

Economists had forecast that the number of jobs would be close to 190,000 for the month.

The unemployment rate fell from 4.0% to 3.9% in July, the U.S. Department of labor, said, in the vicinity of the 18-year low it reached in may.

The prior job-to-earnings estimates for may and June were revised upward to 268,000, and 248,000 respectively.

The job numbers showed the data of the last week, that the US economy grew at an annualised rate of 4.1% in the second quarter of the year.

The labor Department figures also showed average hourly earnings rose by 0.3% in July, to $27.05, that is to say, they were up 2.7% from the same month last year.

To increase the hourly wages are, in part, a result of a squeezed labour market, in which there are nearly 6.6 million unfilled vacancies across the nation.