In this Monday, June 24, 2013, photo, a recruiter waits to meet with job seekers at a career fair, in King of Prussia, Pa. The Labor Department reports on the number of Americans who applied for unemployment benefits in the last week of July on Thursday, Aug. 1, 2013. In the previous week, applications rose to 343,000. Weekly applications can be volatile in July because of summer shutdowns at auto plants that can cause temporary spikes in layoffs. Still, the broader trend has been favorable and consistent with steady job growth. (AP Photo/Matt Slocum)
WASHINGTON (AP) — Companies have all but stopped laying off workers. They just aren’t hiring many.
When the government issues the July employment report Friday, it will likely show another solid month of job growth. But the job gain can be misleading because it’s a net figure: The number of people hired minus the number who lose or quit jobs.
When employers are cutting few workers, as they are now, it doesn’t take many hires to create a high net gain.
Last week, the number of Americans applying for unemployment benefits fell 19,000 to 326,000, the Labor Department Login to read more