Job market shrank in July, a sharp reversal after months of growth
Summary
The U.S. job market lost 23,000 jobs in July, reversing several months of job growth. This decline was much larger than experts expected, who had predicted an increase of 83,000 jobs.Key Facts
- In July, employers reduced the number of jobs by 23,000.
- Experts had predicted a gain of 83,000 jobs for the month.
- This showed a sharp change from previous months where the job market was growing.
- The data came from a jobs report released last week.
- The report reflects employment trends in the United States for July.
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