U.S. Added Just 114K Jobs in July, Unemployment Rate Shoots Up to 4.3%

Checking other report details, average hourly earnings rose 0.2% in July, shy of 0.3% expected, and 0.3% in June. On an annual basis, average hourly earnings were higher by 3.6% versus 3.7% expected and 3.8% in June. Average weekly hours also missed expectations, coming in at 34.2 against forecasts for 34.3 and 34.3 in June.