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US nonfarm payrolls fall by 23,000 in July

financeAug 7, 2026497,551

The Bureau of Labor Statistics reported U.S. nonfarm payrolls fell by 23,000 in July, the first monthly decline since February, while the unemployment rate eased to 4.1 percent. The report included a sharp downward revision of 103,000 jobs for prior months. Economists had expected roughly an 80,000 gain, so July’s print missed consensus by a wide margin. The decline was driven largely by state and local government losses, including a roughly 50,000 drop in public education employment that has been falling since March. The unemployment rate fell in part because about 264,000 people left the labor force, pushing the labor force participation rate down to 61.4 percent. Nominal wage growth cooled to about 3.2 percent year over year. One economist warned the revisions and the payroll decline suggest the labor market may be struggling rather than strengthening.

Robert Reich
@rbreich.bsky.social

Under Trump, labor force participation is collapsing as stable, well-paying jobs become harder and harder to find. Meanwhile, inflation keeps surging and wiping out wage growth. He's running the economy just like he ran his businesses — right into the ground.

286845d ago
Aaron Rupar
@atrupar.com

CNBC on the July jobs report: "Minus -- minus! -- 23,000 on non-farm payrolls. That would be the second worst number of the year ... revisions -- another whopper! Minus 103,000 ... average hourly earnings -- big miss!"

306245d ago
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