Unemployment rises to 6.2%

WASHINGTON(Reuters) - U.S. job growth slowed in July and an unexpected rise in the unemployment rate pointed to some slack in the labour market that could give the Federal Reserve room to keep interest rates low for a while.

Nonfarm payrolls increased 209,000 last month after surging by 298,000 in June, the Labour Department said on Friday.

Data for May and June were revised to show a total of 15,000 more jobs created than previously reported, showing underlying momentum and taking some of the sting from the report.

U.S. stock index futures pared losses on the report, while the dollar fell to a session low against a basket of currencies. U.S. Treasury debt yields dropped.

But the full time workers held on, so maybe we are done with the part times expansion.