Overview

• 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.