Job Growth Cools, Unemployment Rate Rises to 6.2%

employment situation july
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By Lucia Mutikani

WASHINGTON -- U.S. job growth slowed more than expected in July and an unexpected rise in the unemployment rate pointed to some slack in the labor market that could give the Federal Reserve room to keep interest rates low for a while.

Nonfarm payrolls increased 209,000 last month after surging by 298,000 in June, the Labor Department said Friday.