Job losses in July and negative revisions reveal a weakening U.S. labor market (www.nbcnews.com)

submitted 12 hours ago by MicroWave@lemmy.world to c/politics@lemmy.world

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In a troubling sign for the economy, the Bureau of Labor Statistics said that it revised down the prior two months’ jobs by a combined 103,000.

The U.S. economy shed 23,000 jobs in July, a sign that the labor market had not stabilized after four months of positive growth.

The unemployment rate ticked down only slightly to 4.1%.

Economists surveyed by Dow Jones were expecting the release to show 83,000 added roles, more than June’s 57,000.

In yet another troubling sign for the labor market, the Bureau of Labor Statistics said that it revised down the prior two months by a combined 103,000. May’s jobs total was cut by 66,000 to 129,000 total jobs added, while June’s total was lowered by 37,000 to a total gain of 57,000.

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