Reported 2 days ago
The US labor market added only 73,000 jobs in July, significantly below the expected 104,000, while unemployment rose to 4.2%. Revisions to prior months indicated more than a quarter million fewer jobs were added than previously reported, leading economists to anticipate a potential interest rate cut by the Federal Reserve in September. Average hourly earnings increased by 3.9% year-over-year, yet the labor force participation rate declined to 62.2%, suggesting a slowdown in hiring momentum.
Source: YAHOO