U.S. Unemployment Rate Rises to 4.3% in July

The U.S. unemployment rate rose to 4.3% in July, the highest since October 2021, driven by a significant slowdown in hiring where only 114,000 jobs were added, down from 179,000 in June. This marks the fourth consecutive monthly increase in unemployment, raising concerns about the labor market's health amid high interest rates imposed by the Federal Reserve to combat inflation. Average hourly wage growth also decelerated to just 3.6%, the smallest increase in over three years, potentially influencing the Fed's decision on interest rate cuts later this year. Despite the recent slowdown, many Americans remain pessimistic about the economy, with 46% rating it as