Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, the Labor Department reported Friday.
The unemployment rate edged higher to 4.3%, its highest since October 2021.
"Temperatures might be hot around the country, but there's no summer heatwave for the job market," said Becky Frankiewicz, president of the Manpower Group employment agency.
From a sector standpoint, health care again led in job creation, adding 55,000 to payrolls.
The labor force also contracted by 214,000, though the participation rate as a share of the working-age population actually edged higher to 62.7%.
Persons:
Nonfarm payrolls, Dow Jones, Becky Frankiewicz
Organizations:
Labor Department, Stock, Manpower Group
Locations:
U.S