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July Jobs Report Signals Economic Slowdown, Sparks Recession Concerns

The unemployment rate climbs to a three-year high, prompting fears of a recession as Federal Reserve prepares for potential rate cuts.

  • The US unemployment rate rose to 4.3% in July, the highest in three years.
  • Employers added only 114,000 jobs, falling short of the 175,000 expected.
  • The Sahm Rule, a recession indicator, has been triggered by the rising jobless rate.
  • Economists predict further rate cuts by the Federal Reserve to counter economic slowdown.
  • Stock markets reacted negatively, with major indices experiencing significant declines.
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