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Home >> Business
UPDATED: 12:52, August 08, 2005
US jobless rate steady at 5 percent in July
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The US unemployment rate in July stood steady at 5 percent as employers expanded their payrolls by 207,000, the highest figure in five months, the Labor Department reported on Friday.

The jobless rates of 5 percent in June and July were the lowest since August 2001, when US unemployment rate was 4.9 percent.

The report showed that boosts in hiring came in retailing, education and health services, financial activities and construction. But factories shed jobs for the second straight month.

Revised figures released by the department also showed that payroll increases in May and June proved stronger than previously thought. The number of jobs increased by 126,000 in May and 166, 000 in June.

The large increase of payrolls in July and revised figures in the previous two months offered strong evidence that the US job climate is improving considerably.

Source: Xinhua


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