The slight decline in jobs pointed to continued weakness, reinforcing analysts’ beliefs that the Federal Reserve, the central bank, will cut short-term interest rates for the seventh time this year at its next meeting later this month.
The steady rate was better than the reading of 4.6% that analysts had predicted.
Employers cut 42,000 jobs outside the farm sector last month, compared with a revised loss of 93,000 jobs in June. Meanwhile, wages rose by 4 cents to $14.35 an hour in July, a 0.3% gain.
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