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Employers added just 32,000 workers to payrolls last month, a surprisingly weak number that led Wall Street to fret about second-half economic growth and to expect a slower pace of interest-rate rises. The Labor Department (search ) on Friday also cut its tally of job growth in May and June by a combined 61,000, adding to the soft tenor of a report that came as unwelcome news for an election-bound President Bush. 'It's a huge disappointment, a big surprise,' said Scott Brown, chief economist at Raymond James in St. Petersburg, Fla. 'It implies a very sharp revision to the overall outlook for the economy.' Stock prices fell, with the blue-chip Dow Jones industrial average off about 90 points early afternoon, while bonds surged and the dollar tumbled as traders saw the report ensuring the Federal Reserve (search ) would tread a careful path on raising rates.
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