WASHINGTON (AP) - Hiring slowed in July as employers added just 113,000 new jobs, propelling the unemployment rate to a five-month high of 4.8 percent and providing fresh evidence that companies are growing cautious amid high energy prices. Wages grew solidly.
The latest snapshot Friday from the Labor Department added to the evidence from a variety of economic barometers that the U.S. economy is slowing and inflation is rising. Those conflicting forces present the Federal Reserve with a dilemma over interest rates when policymakers meet next week.The tally of new jobs last month did not match the 124,000 added in June and was the lowest total since May, when payrolls grew by 100,000.
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