Nothing But Politics

[Rick Faurot]

U.S. July job growth slows to 32,000 -

Friday, August 6, 2004 1:07:47 PM

WASHINGTON (AFX) -The U.S. economy added 32,000 nonfarm payroll jobs in July as hiring slowed for the fourth straight month, the Labor Department reported Friday

It was the slowest job growth of the year

Economists were expecting much stronger payroll growth of about 235,000 in July, according to a survey conducted by CBS MarketWatch. Payroll growth in May and June was revised lower by a cumulative 61,000, showing the job market is weaker than commonly thought. June was revised to 78,000 from 112,000 while May was revised down to 208,000 from 235,000, according to the survey of 400,000 business establishments. "A terribly disappointing report," said Joshua Shapiro, chief economist for MFR


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