00:00U.S. non-farm payrolls increased by just 73,000 positions for the month of July, well below the expected range of 100,000.
00:07Meanwhile, May and June data were revised downward by a combined 258,000 jobs, revealing prior strength was a bit overstated.
00:15The unemployment rate ticked up to 4.2 percent, with health care and social assistance sectors driving roughly 94 percent of the month's job gains, highlighting narrow hiring concentrations.
00:26The new sobering figures have intensified expectations that the Federal Reserve could begin cutting interest rates as early as September.
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