‘Smell a Recession Coming’: Weak Jobs Report Shows Unemployment Spike, Stoking Economic Fears
NEW YORK (Reuters)—U.S. job growth slowed more than expected in July, while the unemployment rate increased to 4.3%, stoking fears that the labor market is deteriorating and making the economy vulnerable to a recession. Employers added 114,000 jobs, below expectations for an 175,000 increase. The unemployment rate rose to 4.3%, above economists expectations that it