187,000 jobs added in July, unemployment falls to 3.5% The US economy added fewer jobs than expected in July , but solid wage gains and a decline in the unemployment rate back to 3.5% pointed to continued tightness in labor market conditions. The Labor Department's employment report also showed job gains in May and June were revised lower, potentially suggesting demand for labor was slowing in the wake of the Federal Reserve's hefty interest rate hikes . But with 1.6 job openings for every unemployed person in June, the moderation in hiring may also be the result of companies failing to find workers .

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