The U.S. economy added 187,000 jobs in July, less than expected

Job growth in July was less than expected, pointing to slower growth in the U.S. economy, the Labor Department reported Friday.

Nonfarm payrolls expanded by 187,000 for the month, slightly below the Dow Jones estimate for 200,000. Though the headline number was a miss, it actually represented a modest gain from the downwardly revised 185,000 in for June.

The unemployment rate was 3.5%, against a consensus estimate that the jobless level would hold steady at 3.6%.The rate is just above the lowest level since late 1969.

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