US unemployment rate rises to 8.3%03/08/2012 - 13:52:42
The unemployment rate in the US rose to 8.3% from 8.2% in June, officials said.
US employers added 163,000 jobs in July, new figures show, a hopeful sign after three months of sluggish hiring.
July’s hiring total was the best since February but the economy has added an average of 151,000 jobs a month this year, roughly the same as last year’s pace, which is not enough to satisfy the 12.8 million Americans who are unemployed.
The rate increased because the government uses two surveys: A survey of businesses showed job gains, but a survey of households showed fewer people had jobs. Economists said the business survey is more reliable.
High unemployment could hurt President Barack Obama’s re-election hopes. No president since the Second World War has faced re-election with unemployment over 8%.