8/8/2004

Economy stuck in July

The Associated Press

WASHINGTON — America’s payrolls grew by an anemic 32,000 new jobs in July, suggesting the economy is stuck in summer lethargy three months before voters elect a president. The report rattled Wall Street and sent stocks tumbling.
The latest snapshot on employment growth, in a report Friday by the Labor Department, showed the smallest gain in hiring since December. Job gains reported earlier for May and June also were lowered.