U.S. Economy Adds 162K Jobs, Unemployment Dips To 7.4%

By: CBS Moneywatch (Posted by Amanda Lanum)
By: CBS Moneywatch (Posted by Amanda Lanum)

The U.S. economy added 162,000 jobs in July, the Labor Department said Friday morning. The unemployment rate edged dipped to 7.4 percent.

Friday's jobs report came on the heels of two encouraging labor snapshots: On Thursday, the Labor Department said the number of Americans seeking unemployment benefits dropped last week to the lowest since 2008; and earlier in the week, payroll provider ADP said private businesses had added 200,000 jobs in July.

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