Payrolls Rose 162,000 in July; U.S Jobless Rate Falls to 7.4%

Payrolls Rose 162,000 in July; U.S Jobless Rate Falls to 7.4%

Jeff Kowalsky/Bloomberg

The slower pace of hiring suggests some employers are confident they’re able to meet demand with current staffing levels as the economy begins to emerge from a first-half slowdown. At the same time, improving consumer confidence and auto sales have encouraged other companies such as Amazon.com Inc. and Ford Motor Co. to take on more workers.