US employers added 114,000 jobs in July, short of the 180,000 expected, and a decrease from the 179,000 in June, while unemployment rose to 4.3%.
Wall Street reacted sharply with S&P 500 declining 2.5% and Nasdaq falling 2.9%, leading to concerns about the economic outlook. President Biden and Donald Trump differ on US economy's status.
The Federal Reserve, considering interest rate cuts later in the year, aims for a 'soft landing' to normalize inflation and avoid recession as they assess economic strength and price growth.
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