The U.S. Labor Department reported a slight increase in the unemployment rate for July, reaching 4.2 percent. This marks a minimal rise from previous figures and was released Friday in Washington. The number of unemployed individuals remained at 7.2 million.
According to the Department, employers added approximately 73,000 non-farm jobs. Growth primarily occurred within the healthcare and social assistance sectors. Conversely, employment within the government sector continued a downward trend. The number of long-term unemployed individuals rose to 1.8 million.
These labor market figures are being closely monitored by investors globally. A robust labor market, coupled with ongoing inflationary pressures, complicates the possibility of interest rate reductions. Such reductions would be viewed favorably by market participants, potentially shifting investment strategies and making borrowing more affordable for businesses and other entities.