Friday's report showed the unemployment rate unexpectedly rose to 4.3%, the highest in nearly three years, while the number of jobs added in July fell well short of expectations.
Nick Bunker of Indeed Hiring Lab stated, 'the soft landing for the US labor market is in peril,' highlighting the looming threat on the labor market's stability.
Claudia Sahm emphasized the urgency for the Fed to cut interest rates, indicating that the central bank should have started this path earlier to prevent further economic deterioration.
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