The U.S. added only 73,000 jobs in July and the unemployment rate stayed flat at 4.2 percent, according to data released Friday by the Labor Department.
The July jobs report showed the labor market stalling out as consumers and businesses navigated President Trump’s ever-evolving trade policies and steep new tariffs.
The report came in well below the expectations of economists, most of whom projected job gains of at least 100,000 in July, according to consensus estimates.
Private sector payrolls rose by 83,000 in July, below the 100,000 job gain projected by LSEG.
Government payrolls declined by 10,000 in July. The decrease was driven by a reduction of 12,000 jobs in the federal government, which has seen payrolls decline by 84,000 since its January peak. Employees on paid leave or receiving ongoing severance pay are counted as employed in the BLS’ establishment survey.
State government added 5,000 jobs and local government had employment decline by 3,000 jobs in July.
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Author: Faith Novak
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