US Unemployment Rate Climbs to Highest Since October 2021

The economy created fewer jobs than expected.
US Unemployment Rate Climbs to Highest Since October 2021
People wait in line to enter the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, N.Y., on Oct. 7, 2014. Shannon Stapleton/Reuters
Andrew Moran
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The U.S. economy created fewer jobs than expected while the unemployment rate increased, signaling that the labor market could be going through a rapid deceleration at a time when the Federal Reserve could soon be cutting interest rates.

According to the Bureau of Labor Statistics (BLS), there were 114,000 new jobs in July, down from 179,000 in June. This fell short of the consensus estimate of 175,000.
Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."