US economy adds 114,000 jobs in July but unemployment figures creep up

Unemployment rate hits 4.3%

The US economy added 114,000 Jobs in July, while the country’s unemployment rate jumped from 4.1% to 4.3%.

This figure was significantly below the average monthly gain of 215,000 over the previous 12 months. According to data released by the US Bureau of Labor Statistics today (2 August), total nonfarm payrolls came in lower than anticipated, after economists surveyed by Factset estimated an 175,000 increase in July and the unemployment rate expected to hold at 4.1%.  Federal Reserve holds firm on bank rate as hopes of a September cut rise Healthcare employment continued to trend upwards, adding the most jobs of any sector in July at 55,000, just shy of the sector's average monthly gain...