Unemployment in US jumps as fears grow Fed has left it too late to cut rates

Employers created 114,000 jobs in July, well below expectations.

Employment was forecast to increase by 185,000 in the month.

The unemployment rate also rose slightly to 4.3 percent, according to data released on Friday by the Labor Ministry.

This was the highest level since October 2021.

US stock futures fell Friday morning after the weak jobs report, while Treasury yields tumbled.

In the first half of the year, an average of 203,000 jobs were added per month, while the unemployment rate actually rose.

This is a breaking news story. Updates will follow.