What the July jobs report reveals about the strength of the economy
Summary
In July, the U.S. economy lost 23,000 jobs, which was less than what experts expected. The job numbers for May and June were also adjusted down by 103,000 fewer jobs than first reported. The unemployment rate dropped slightly from 4.2% to 4.1%, mainly because fewer people were looking for work.Key Facts
- The U.S. economy lost 23,000 jobs in July.
- Economists had predicted small job growth for July.
- May and June job numbers were revised down by a total of 103,000 fewer jobs.
- The unemployment rate changed from 4.2% to 4.1%.
- The lower unemployment rate was due to fewer people looking for jobs, not an increase in hiring.
- Heather Long, chief economist at Navy Federal Credit Union, discussed these job figures with Amna Nawaz.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
