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 said Thursday. That was the fewest since January 2008.
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