US Govt Report Shows Unemployment Increment In July

2024-08-02 03:05:30

(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, Aug 2 (KUNA) -- The US Labor Department on Friday reported that job growth cooled sharply in July while the unemployment rate unexpectedly rose to the highest level in nearly three years.
The Labor Department on Friday reported that employers added 114,000 jobs in July.
The unemployment rate unexpectedly inched higher to 4.3 percent, marked the highest level for the jobless rate since October 2021, the report stated.
The White House released a statement from President Joe Biden on the July jobs report, indicating that employment is growing more gradually at a time when inflation has declined significantly.
President Biden added that business investment remains strong due to the administration's investing in America agenda, which is creating good-paying jobs. (end)
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