U.S. hiring slowed significantly with just 114,000 new jobs added, down from June's 179,000. The unemployment rate climbed to 4.3%. The Fed's high interest rate strategy appears to be impacting job growth.
The strong job gains in the economy have tempered, averaging 222,000 new jobs per month from January to June but down from previous years. Consumer concerns about high prices persist despite some easing since a peak two years ago.
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