US Job Growth Slows in July: Only 114,000 Jobs Added & Unemployment Rises Over 4% 📉

US job growth slowed significantly in July, with only 114,000 jobs added compared to forecasts of 185,000. The unemployment rate rose slightly to over 4%, the highest since October 2021. Average hourly earnings in July grew less than expected, both monthly and annually. Health care added the most jobs, followed by construction, the government sector, and leisure and hospitality. The information sector lost 20,000 jobs. The data has fueled concerns about a broader economic slowdown and could encourage more aggressive Fed rate cuts.