Job Growth Slows in July; Jobless Rate Edges Up

Employers added 209,000 jobs last month, fewer than expected and much lower than the 298,000 generated in June. But it still was the sixth straight month of growth above 200,000 and the longest such stretch since the Great Recession began. The jobless rate edged up to 6.2 percent from 6.1 percent, the Labor Department reported on Friday, signaling that more people were seeking work. The government only counts people who are actively looking for work as unemployed. The news of cooler jobs growth could assuage some in the financial markets who had been worried that rising labor costs would push the Federal Reserve to raise interest rates. Markets tumbled Thursday on those concerns.



-- NBC News staff