08/04/2023

Employers Added 187,000 Jobs in July

This figure fell below predicted expectations

The great American jobs machine sputtered in July, as companies added 187,000 workers in a report that came in below expectations, the Labor Department reported on Friday.

The unemployment rate fell slightly to 3.5 percent, while average hourly earnings remained unchanged at a yearly 4.4 percent rate.

Healthcare was a major contributor to the monthly increase, adding 63,000 jobs, above its average monthly gain of 51,000 during the past year. Social assistance jobs increased by 24,000 while employment in financial services rose by 19,000.

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