In July, the U.S. added only 73,000 jobs, falling short of expectations and leading to an unemployment rate increase to 4.2%. The revisions of previous months showed a total loss of 258,000 jobs, indicating weaker hiring than initially reported. The President called for the firing of the Bureau of Labor Statistics commissioner following the disappointing report. Despite the overall slowdown, the health care sector experienced notable job growth, contributing 55,000 new positions, above the recent average. The Labor Department cites additional reports leading to revisions in the job statistics.
The U.S. added fewer jobs than anticipated in July, leading to a total increase of only 73,000 jobs, significantly below expectations of over 100,000.
The unemployment rate rose to 4.2% in July from 4.1% in June, aligning with levels from March through May, indicating a modest employment decline.
Revisions to previous job gains showed a combined loss of 258,000 jobs over the prior two months, demonstrating much weaker hiring than originally reported.
The health care sector experienced notable growth, adding 55,000 jobs in July, surpassing the average monthly gain of 42,000 over the previous year.
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