BusinessPublished
US Jobs Report Falls Short of Expectations
The July jobs report showed a decline of 23,000 jobs, contrary to predictions. Average hourly earnings saw a modest increase, but the labor force participation rate decreased. The unemployment rate also ticked down, driven by a drop in the labor force participation rate.
At a glance
- US jobs report revealed a loss of 23,000 jobs in July.
- Average hourly earnings rose less than expected, by a tenth of 1%.
- Labor force participation rate dropped to 61.4%, down from previous levels.
- Unemployment rate decreased to 4.1%, beating estimates by a tenth of a percent.