US employment slowed in July as unemployment rate rose to 4.3%; Showbiz, media lay off workers – Knowligent
US employment slowed in July as unemployment rate rose to 4.3%; Showbiz, media lay off workers

US employment slowed in July as unemployment rate rose to 4.3%; Showbiz, media lay off workers

HomeNewsUS employment slowed in July as unemployment rate rose to 4.3%; Showbiz, media lay off workers

The unemployment rate rose 0.2% to 4.3% in July as the number of new jobs slowed to 114,000 during the month, the latest data from the Labor Department showed.

US unemployment rate rises to 4.3%, 114,000 jobs added in July

The information sector took the biggest hit in terms of job losses, including in the entertainment and media sectors, while employment increased in health care, construction, and transportation and warehousing.

Motion picture and sound recording industries saw a loss of 3,500 jobs to 445,400, while publishing lost 5,900 positions to 919,600. Broadcasters and content providers lost 1,600 positions to 338,900.

Overall job growth was lower than expected and stands in stark contrast to the average of 215,000 jobs created in the previous 12 months.