(CNNMONEY) The job market hit a speed bump in July, as hiring slowed and both hours worked and wages fell slightly.

The U.S. economy added 162,000 jobs, marking the slowest month for hiring since March, the Department of Labor said Friday. Economists surveyed by CNNMoney had predicted employers added 180,000 jobs. Stocks slipped at the opening bell, following the report.

“It was a bit of a disappointment,” said Sal Guatieri, senior economist with BMO Capital Markets. “We’re continuing to see moderate but unspectacular job growth in the U.S. and that’s consistent with an economy that’s growing at a modest rate.”

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