U.S. Hiring Slowed Sharply, With 114,000 Jobs Added in July

Job growth slowed sharply in July and the unemployment rate rose to its highest level since 2021, adding to evidence that a labor market whose strength is fading could actually be on its way to weakness.

America is still adding jobs, but no longer at a red-hot pace. The Labor Department reported on Friday that hiring slowed to 114,000 jobs last month, missing expectations. The unemployment rate rose to 4.3%.