US ECONOMY IN TROUBLE: U.S. job market feels housing's strain - by Peter Gosselin
U.S. employers added a less-than-expected 92,000 jobs and the unemployment rate inched up to 4.6% last month as economic growth slowed under the weight of the worst housing recession in 16 years. Expansion of nonfarm payrolls was down from 126,000 in June and 188,000 in May and the jobless rate was up 0.1 percentage point -- the first increase since April -- as the troubled construction industry trimmed 16,000 jobs, the Labor Department said today. Separately, a measure of the nation's giant service sector showed an unexpectedly large decline in activity.
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