Unemployment dips to 9.1 percent

Author:
Updated:
Original:

The U.S. economy added more jobs than expected in July as the unemployment rate edged down to 9.1 percent.

Non-farm payrolls rose by 117,000 last month as private-sector employers added 154,000 jobs, the Labor Department said this morning. Private employers added 80,000 jobs in June.

Payroll data for the previous two months were revised upward by a total of 56,000 to show increases of 46,000 jobs in June and 53,000 in May.

The unemployment rate dropped slightly from 9.2 percent in June.

The numbers were better than expected and could help lift stock markets, which fell sharply Thursday amid concerns that a new recession may be in the offing, according to a report in The Wall Street Journal.

Even though the jobs report was better than expected, the labor market remains weak. President Obama this week called on Congress to extend unemployment benefits and a payroll-tax credit after lawmakers approved a deal to raise the nation's debt limit. But he is likely to face stiff opposition from Republicans who are worried about government spending, according to the report.

Click here for the full article.

Related

Patrick Acquires SeaDek Parent

The Indiana-based company continues its strategy of growth through acquisitions.

BoatUS, USPS Resume Safety Checks

The groups are offering the service during safety events, or boaters can conduct the inspection using an online guide.

Stepping Up the Pace of Relief

A positive jobs report, 3 million vaccinations per day and consumer confidence point toward economic recovery.

Freedom Boat Club Buys N.Y. Franchise

The latest acquisition is Brunswick’s sixth corporate-owned Freedom operation in the United States.

In-Person NMEA Conference Announced

The electronics conference, in conjunction with the Radio Technical Commission for Maritime Services, is scheduled for Sept. 20-24 in Orlando, Fla.

Vesper Appoints U.S.-based Manager

Damien Frye will drive sales of the New Zealand-based company’s Cortex product line.

Groupe Beneteau Sells CNB

As part of the conglomerate’s realignment, the Groupe has inked an agreement with Italian yard Solaris to purchase the bluewater sailing brand.