July jobs report: Hiring slows in the U.S.

(ABC 6 News) — A softer than expected jobs report was released on Friday, with only 114,000 jobs being added in the United States in July.

That number is quite a bit below expectations and well below the trend of 215,000 new jobs every month over the past year.

This comes as unemployment ticked up to 4.3%. Though historically low, it’s the highest number we’ve seen since last October. The fed will likely cut interest rates to encourage stronger job growth.