U.S. job growth cools, unemployment rate rises to 6.2 percent
WASHINGTON (Reuters) - U.S. job growth slowed in July and the unemployment rate unexpectedly rose, pointing to slack in the labor market that could give the Federal Reserve room to keep interest rates low for a while.
Nonfarm payrolls increased 209,000 last month after surging by 298,000 in June, the Labor Department said on Friday. Economists had expected a 233,000 job gain.
Are you a newspaper subscriber but you don't have a Digital Access account yet? Activate your account.
You will need your subscription account number and phone number. Not sure if you have an account? Email us or call (701) 780-1100 and we can help you.