Unemployment Rose To 4.2% In July As Hiring Fell Sharply
1. U.S. job market shows signs of slowing; unemployment rose to 4.2%. 2. Only 73,000 nonfarm jobs added, significantly below projections. 3. Job cuts increased by 140%, largely in retail and influenced by tariffs. 4. Fed may consider interest rate cuts as economic uncertainty persists. 5. Optimism exists as ADP reports a net increase in private jobs.