Jobs report lower than expected for July

WASHINGTON (NEXSTAR) – Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, fueling fears of a broader economic slowdown.

The U.S. Economy added 114,000 jobs in July, while the unemployment rate rose to 4.3 percent, much weaker than economists predicted.

"It has now risen nine tenths of one percent from the more than 50-year low," Mark Hamrick at Bankrate said.

The unemployment rate is now at its highest level since October 2021.