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Thomson Corporation
July's solid job growth shows economic recovery is advancing
July's solid job growth shows economic recovery is advancing

July’s employment report showing net growth of 209,000 jobs was below expectations and a sharp tail-off from the previous month, but still represents a solid gain that shows the recovery from the Great Recession is advancing, economists said. “It’s better,” Kevin Logan, chief U.S. economist at HSBC Bank, said of an economy growing at about a 2.5% annual rate. “It could be much better, but at least it’s improving — even if slowly.” July was the sixth straight month that the economy added more than 200,000 net new jobs. That hasn't happened since the dot-com boom in 1997. The unemployment rate ticked up by a tenth of a percentage point...

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