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Us Employers Add 223k Jobs; Jobless Rate Falls To 5.3%
WASHINGTON (AP) -- U.S. unemployment fell to a seven-year low of 5.3 percent and employers hired at a solid pace in June, but other gauges of the job market drew a bleaker picture: A wave of people stopped looking for work, and paychecks failed to budge.
The figures released Thursday capture the persistently uneven nature of the recovery from the Great Recession.
The job market "remains consistent with a two-steps-forward, one-step-back expansion the U.S. economy finds itself in," said Scott Andersen, chief economist at Bank of the West.
The economy gained 223,000 jobs last month, and unemployment edged down from 5.5 percent in May, the Labor Department reported.
That is the lowest jobless rate since April 2008, when it was 5 percent. It eventually soared to 10 percent in late 2009 after the recession had done its worst.
More: www.ap.org
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