Update: Jobs and Interest Rates

The U.S. added 114,000 jobs in July and the unemployment rate rose to 4.3 percent, per data released by the Labor Department. Economists expected the U.S. to add 175,000 jobs and keep the jobless rate steady at 4.1 percent, per consensus estimates. The Federal Reserve is leaving interest rates unchanged. The federal funds rate are in a range of 5.25% to 5.5%.  The Fed's announcement, which was widely expected by investors, means the federal funds rate has been parked at that level since July 2023, when the central bank last raised rates.