US nonfarm payrolls decrease by 23,000 jobs in the latest month, according to data from the US Bureau of Labor Statistics. The report also includes a combined downward revision of 103,000 jobs to the prior May and June figures. As a result, the unemployment rate declines to 4.1%. Bloomberg adds that the fall in unemployment occurs alongside continued weakness in labor force participation, which keeps trending downward. The same sources note that wage growth slows, indicating softer labor costs in the latest period. Taken together, the figures point to a labor market that is cooling in terms of both job creation and wage momentum, while unemployment improves modestly. However, the unemployment rate’s decline is also linked to labor force participation moving lower, which can affect how many people are counted as unemployed. The cited BLS payroll and unemployment measures are based on the standard monthly employment survey methodology.
US nonfarm payrolls fall as unemployment rate declines to 4.1%
US nonfarm payrolls decrease by 23,000 jobs in the latest month, according to data from the US Bureau of Labor Statistics. The report also includes a combined downward revision of 103,000 jobs to the...
- US nonfarm payrolls fall by 23,000 jobs in the latest month.
- May and June payroll figures are revised downward by a combined 103,000 jobs.
- The unemployment rate declines to 4.1%.
- Labor force participation continues to decline.
- Wage growth slows in the latest data.
Nonfarm payrolls decreased 23,000 last month following a combined 103,000 downward revision to the May and June figures, Bureau of Labor Statistics data showed Friday. The unemployment rate fell to 4.1% as labor force participation continued to slide, and wage growth slowed. Claudia Sahm, Chief Economist at New Century Advisors and Constance Hunter, Chief Economist at EIU, react to July jobs data. (Source: Bloomberg)
2 hours agoNonfarm payrolls decreased 23,000 last month following a combined 103,000 downward revision to the May and June figures, Bureau of Labor Statistics data showed
3 hours ago
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