Thomson Corporation

July's job growth strong but below expectations

July's job growth strong but below expectations

The labor market extended its best streak since the late 1990s, posting solid job growth last month that lured more people back into the workforce.

The 209,000 net new jobs were below analyst expectations and a sharp falloff from June's robust 298,000 figure.

In addition, there were signs in Friday's Labor Department report that the job market still isn't back to full health. Those markers included stagnant wages and an increase in the already high number of people out of work for more than six months.

Nonetheless, July was the sixth straight month that the economy added more than 200,000 net new jobs, which hadn't happened since the early dot-com boom in...

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