From Businessweek: The U.S. economy created more jobs than
expected in July, 163,000, which indicates the economy is well away from the
brink of recession. But details of the government’s jobs report took some
luster off the headline number. The government revised previous months’ gains
slightly lower, and the unemployment rate rose a tick to a five-month high of
8.3 percent. Also, the July increase was partly due to a quirk in auto
production scheduling that could be reversed in coming months.
Bloomberg News reports that the unexpectedly large gain of
12,800 jobs at makers of motor vehicles and parts “may have reflected fewer
shutdowns at automakers for annual retooling related to the new model year,
indicating the jump will be reversed this month.” Which is to say, the August
number could give back a bit of the July gain....
Find out more at http://www.businessweek.com/articles/2012-08-03/the-163-000-jobs-gain-in-july-is-good-but-not-great
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