A report released by the Labor Department showed that the economy added 162,000 jobs in July, disappointing earlier estimates of more robust job growth. Hiring was concentrated in the retail, trade, and professional services sectors, with levels in manufacturing and construction remaining almost stagnant through the month. Friday?s report also showed that hiring in May and June was not as strong as was previously thought, revised down by a total of 26,000 jobs. The unemployment rate slid down to 7.4 percent in July, though likely due to discouraged workers dropping out of the labor force.
See "Economy added disappointing 162k jobs in July", Ylan Q. Mui, The Washington Post, August 1, 2013