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The job market cooled more than analysts expected in July, according to the Bureau of Labor Statistics’ (BLS) latest jobs report. Unemployment continued to tick upward, hitting a three-year high, while the number of jobs added fell from June. Let’s take a closer look.
Diving into the data. The unemployment rate jumped up to 4.3% in July, up from 4.1% in June. July’s jobless rate marks the highest number of unemployment claims since October 2021, when it was 4.5%. Employers added 114,000 total jobs last month, down from the revised estimate of 179,000 jobs that were added in June. By comparison,