Unemployment rate increased in July to 4.3%, number of new jobs far below projections

The Labor Department reported Friday the unemployment rate for July was 4.3% and that the economy added 114,000 new jobs, far fewer that projected. 

The number of new, non-farm payroll jobs was down from 179,000 in June and below the Dow Jones estimate of 185,000, according to CNBC.

The unemployment rate slightly increased to 4.3%, its highest since October 2021. The rate in June was 4.1%, according to the department's Bureau of Labor Statistics.