US job growth was slower than expected in July and the unemployment rate edged higher, the Labor Department reported on Friday.
Nonfarm payrolls grew by just 114,000 for the month, down from a downwardly revised 179,000 in June and below the Dow Jones estimate for 185,000. The unemployment rate rose to 4.3%, the highest since October 2021.
Average hourly earnings, a closely watched barometer of inflation, rose 0.2% for the month and 3.6% from a year ago. Both figures were below forecasts for 0.3% and 3.7% respectively.
Stock market futures added to losses after the report while Treasury yields fell.
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