Unemployment Rate, U.s. Economy | featured news

The state's labor market showed continued resilience in July as California employers added 25,200 nonfarm jobs in July, continuing a 12-month streak of job gains. With that figure, the state posted the largest month-over-month increase in the country, but the unemployment rate was unchanged at 10.7%, according to the U.S. Bureau of Labor Statistics.

Mitt Romney said the July report showing an 8.3% jobless rate is a 'hammer blow' to the middle class. The U.S. economy added 163,000 jobs in July, according to a government report released today, but the unemployment rate rose to 8.3%.

U.S. employers in July hired the most workers in five months, but an increase in the jobless rate to 8.3 percent could keep prospects of further monetary stimulus from the Federal Reserve on the table.

Growth at or below 2% isn't enough to lower the unemployment rate. The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowdown in growth adds to worries that the economy could be stalling three years after the recession ended.

The economy created jobs at the fastest pace in nine months in January and the unemployment rate dropped to a near three-year low of 8.3 percent, indicating last quarter's growth carried into early 2012.

People like Christine Alonzo are keeping President Barack Obama afloat and giving his political team hope that he can win re-election despite high unemployment and sour attitudes about his policies and the country's future.