US Economy Adds 114,000 Jobs in July, Far Fewer Than Expected

While the jobless rate unexpectedly increased to its highest point in over three years, U.S. job creation abruptly stopped in July.

According to Labor Department data released on Friday, employers added 114,000 jobs in July, falling short of the 175,000 gain forecast by LSEG economists. In addition, the jobless rate unexpectedly increased to 4.3% from 4.1%, despite predictions that it would remain stable.