The deceleration reflects growing fears about the Covid-19 delta variant and difficulties filling vacant positions. U.S. payrolls are still 5.3 million below their pre-pandemic level.

Core capital goods orders did not change in July, after increasing 1% in June.

U.S. core CPI rose 0.3% from June to July, led by increases in food, energy, shelter, and new vehicles.

Non-farm payrolls increased by 850,000 in June, bolstered by strong job gains in leisure and hospitality.

A surge in consumer spending, due to pent-up demand during the pandemic, is expected to give the economy a significant bump later this year.

How the end of federal aid programs will impact the economic recovery remains to be seen.

Key U.S. economic indicators improved more than expected at the end of the third quarter.

All states but Rhode Island, which showed little change, posted declines from the prior week.