A U.S. Department of Labor report released Friday showed U.S. employers added 114,000 jobs, a sharp drop from the 179,000 jobs posted in June.

The Associated Press (AP) noted that the report comes “amid a flurry of interest,” adding that analysts had forecast employers would add 175,000 jobs in July.

Meanwhile, the unemployment rate rose to 4.3 percent from 4.1 percent in June, the highest level since October 2021.

This is a developing story and will be updated when more information becomes available.

"We are hiring" sign in a shop
A sign reading “Now Hiring” is seen at a store in Washington, DC on October 7, 2022. The latest report from the Department of Labor shows that employers in the U.S. added fewer jobs than expected.

Photograph by Anna Moneymaker/Getty Images