homeWelcome, sign in or click here to subscribe.login
     


 

 

Business


Subscriber content preview

August 5, 2024

Weak hiring in July raises unemployment rate to 4.3%

  • Friday's jobs report showed employers added 114,000 jobs in July — 35% fewer than expected.
    • By PAUL WISEMAN and CHRISTOPHER RUGABER
    AP Economics Writers

    WASHINGTON — The U.S. economy suffered an unexpected setback in July as hiring fell sharply and the unemployment rate rose for the fourth straight month with sustained higher interest rates taking a toll on businesses and consumers.

    Friday's report from the Labor Department showed that employers added just 114,000 jobs in July — 35% fewer than forecasters had expected — and that unemployment, now up to 4.3%, is the highest since October 2021.


     
    . . .


    To read this story in full login or purchase a subscription.



    
    Email or user name:
    Password:
     
    Forgot password? Click here.