Weak US job numbers fuel fears over the economy

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Weak US job numbers fuel fears over the economy

Hiring in the US slowed sharply last month and the unemployment rate rose, stoking fears about the state of the world’s largest economy.

Employers added 114,000 jobs in July, official figures showed, far lower than in June.

Global stock markets are already on edge after earlier US data showed weaker manufacturing activity and major companies such as Intel and Amazon published a string of disappointing financials.

The employment figures suggest the long-running jobs boom in the US might be coming to an end.

There is also concern that the US Federal Reserve may have left it late to cut interest rates. It signalled it would wait until next month to reduce borrowing costs.

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