The U.S. economy added 73,000 jobs in July, which is fewer than expected, as the unemployment rate increased to 4.2%.

Just 73,000 jobs were created last month, on a seasonally adjusted basis. + Economists polled by The Wall Street Journal had forecast that about 100,000 roles were added. Large [revisions for previous

Federal Reserve Chair Jerome Powell repeatedly described the labor market as solid and balanced at his press conference on Wednesday after the Fed held rates at 4.25%-4.50%. Still, he acknowledged there are downside risks.