U.S. job growth slowed more than expected in July, while the unemployment rate rose to 4.3 percent, raising concerns that the labor market is deteriorating and could leave the economy vulnerable to recession.
Nonfarm payrolls increased by 114,000 jobs last month, after rising by 179,000 jobs in June after being revised downward, the U.S. Labor Department’s Bureau of Labor Statistics said in its employment report on Friday.
Economists polled by Reuters had forecast payrolls rising by 175,000 jobs after a gain of 206,000 jobs in June.
Estimates ranged from 70,000 to 225,000 jobs.
The rise in the unemployment rate from 4.1% in June represented the fourth straight monthly increase, and could raise concerns about the sustainability of economic growth.
