The U.S. unemployment rate edged up to 4.2% in July, according to data released Friday by the Department of Labor in Washington. This marks a slight increase from previous figures.
The number of unemployed individuals remained relatively stable at 7.2 million.
Non-farm payrolls indicated that U.S. businesses added approximately 73,000 jobs. Gains were particularly noticeable in the healthcare and social assistance sectors. Conversely, employment in the government sector continued its downward trend. The number of long-term unemployed individuals rose to 1.8 million.
These labor market indicators are being closely monitored globally by investors. A robust labor market coupled with elevated inflation suggests that interest rate reductions are less likely. Such reductions would be viewed favorably by financial markets, potentially shifting investment away from equities and making borrowing more affordable for businesses and other economic actors.
