Reported 2 months ago
The July jobs report showed a concerning trend as the unemployment rate rose to 4.3%, the highest in nearly three years, while only 114,000 jobs were added—significantly lower than the expected 175,000. This marks a slowdown in the US labor market, with wage growth also slowing down, raising speculation about potential interest rate cuts by the Federal Reserve in upcoming meetings. The data indicates warning signs of an economic cooling, prompting a closer watch for possible recessionary signals.
Source: YAHOO