Flickr/Creative Commons/Sean MacEntee

In July of 2013, the United States added 162,000 new jobs allowing the unemployment rate to fall from 7.6% to 7.4%. The Labor Department said that the job increase was fueled by the lower-paying retail and restaurant industries. However, labor analysts were hoping for around 185,000 new jobs in July.

For the private sector, the average workweek fell to around 34.4 hours and hourly wages also fell to $23.98. 

The Washington Times, stated that “47,000 new jobs were created in department stores, home improvement stores and auto dealerships.”

Although the sequester is impacting government jobs, it also is impacting other industries. The health care and defense industry heavily rely on government spending. 

ALSO SEE: Unemployment Hits 4 Year Low

According to Time, “the Federal Reserve will pay particularly close attention to the figures as it decides whether to scale back its $85 billion monthly bond purchases later this year.”

ALSO SEE: US Unemployment Rate Rises

The LA Times reported,"The weakening pace of job growth muddles the outlook for the widely expected tapering of the Federal Reserve's stimulus in September. Prior to this report, job growth was averaging about 200,000 a month this year, a solid if not spectacular pace. But with the latest month and the revisions earlier showing job growth having slowed, the Fed may be more reluctant to reduce its bond-buying stimulus at its next policy meeting."