Hiring below expectations in July but jobless rate dips to 3.5%

U.S. employers hired 187,000 workers last month, less than the expected 200,000. (AP)

WASHINGTON — U.S. employers added 187,000 jobs last month, fewer than expected, as the higher interest rates continued to weigh on the economy. But the unemployment rate dipped to 3.5% in a sign that the job market remains resilient.

Hiring was up from 185,000 in June, a figure that the Labor Department revised down from an originally reported 209,000. Economists had expected to see 200,000 new jobs in July.