Jobless rate increases

? Gripped by caution, employers slowed hiring in July, pushing the nation’s unemployment rate to a five-month high.

The Labor Department reported Friday that employers added just 113,000 new jobs in July, down from 124,000 in June – the latest in a string of mediocre job gains in recent months.

With companies wary of increasing work forces in a slowing economy, the civilian unemployment rate jumped from 4.6 percent in June to 4.8 percent, matching the rate of last February.

The last time the jobless rate was higher was in December, at 4.9 percent.

“Companies are feeling the strain of rising costs for energy and raw materials as well as higher interest rates,” said Lynn Reaser, chief economist at Bank of America’s Investment Strategies Group.