US employment data show the economy shedding jobs in July, according to the latest Labor Department nonfarm payroll report cited by both outlets. The report indicates nonfarm payrolls decline unexpectedly, while the unemployment rate falls to 4.1% from 4.2% in the prior month. In addition to the monthly payroll change, the report includes sharp revisions to previously published payroll figures: nonfarm payrolls for the previous month (and in one account, for the prior two months) are revised notably lower. Both sources frame the figures as potentially affecting expectations for Federal Reserve policy, specifically whether the central bank will raise interest rates at its next meeting. The data combine a lower unemployment rate with weaker job growth, which could influence how investors and policymakers interpret the strength of the labour market and the outlook for inflation and monetary tightening. Overall, the sources agree that the July payroll decline and the substantial downward revisions are the central features of the report.
US nonfarm payrolls drop in July as unemployment rate falls to 4.1%
US employment data show the economy shedding jobs in July, according to the latest Labor Department nonfarm payroll report cited by both outlets. The report indicates nonfarm payrolls decline unexpect...
- US nonfarm payrolls decline unexpectedly in July.
- The unemployment rate eases to 4.1% from 4.2%.
- Nonfarm payroll figures from previous months are revised sharply lower.
- The employment report is considered relevant to expectations for the Federal Reserve’s next interest-rate decision.
- The figures come from the US Labor Department’s closely watched nonfarm payrolls report.
The U.S. economy unexpectedly shed jobs in July and nonfarm payrolls for the prior two months were revised sharply lower, raising questions about whether the Federal Reserve will increase interest rates next month. While the Labor Department’s closely watched employment report on Friday showed the unemployment rate falling to 4.1% last month from 4.2% in...
1 hour agoThe US economy unexpectedly shed jobs in July and nonfarm payrolls for the previous month were revised sharply lower, potentially raising questions about whether the Federal Reserve will increase interest rates next month.
2 hours ago
Take-Two says GTA 6 preorders are unprecedented; release date remains Nov. 19
Take-Two Interactive says demand for Grand Theft Auto 6 preorders is “unprecedented” across the industry. In a recent ea...
U.S. employers cut 23,000 jobs; unemployment rate dips to 4.1%
U.S. employers cut 23,000 jobs in the latest monthly data, in a move described as unexpected by multiple outlets. The U....
S&P/TSX rises and falls amid oil moves; U.S. markets mixed in late trading
Canadian markets show choppy trading as the S&P/TSX composite swings between gains and losses, alongside oil-price moves...