Labor Market Sends Up a Red Flag as Unemployment Rate Rises
Hiring slowed in July as U.S. employers added a disappointing 114,000 jobs and the unemployment rate jumped to 4.3%, the highest level in nearly three years, the Bureau of Labor Statistics announced Friday.Economists had expected to see job growth closer to 175,000 during the month. The results were well below the average of 215,000 jobs added per month over the last year and fell short of the 200,000 jobs per month that are needed to keep up with population growth.The latest data sparked new wo