“Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%”
August 5, 2024
“Nonfarm payrolls grew by just 114,000 in July, below the downwardly revised 179,000 in June and the Dow Jones estimate for 185,000.
The unemployment rate edged higher to 4.3%, its highest since October 2021, triggering an economic rule on recessions.
Health care again led, adding 55,000 to payrolls. Other notable gainers included construction (25,000), government (17,000), and transportation and warehousing (14,000).
Average hourly earnings increased 0.2% for the month and 3.6% from a year ago. Both figures were below respective forecasts for 0.3% and 3.7%…”