The US job market continues its cooldown, adding just 187,000 positions last month | CNN Business

  • 📰 CNN
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 95%

Business News News

Business Business Latest News,Business Business Headlines

The US economy added 187,000 jobs in July, a lower total than economists expected

Employers added just 187,000 jobs in July, slightly above the monthly average seen in the decade before the pandemic, according to new data released Friday by the Bureau of Labor Statistics. Economists were expecting a net gain of 200,000 jobs last month. June’s job growth was revised down to 185,000 jobs from 209,000.

July’s headline number and the downward revisions to the monthly job total for May and June , are further indications that the nation’s labor market is gradually cooling off. Moreover, it further fuels the notion that the Federal Reserve can achieve a “soft landing” of reining in inflation without massive layoffs. The July unemployment rate ticked down to 3.5%, from 3.6%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fitch tells CNN why it downgraded America now | CNN BusinessFitch Ratings is defending its controversial decision to downgrade the US credit rating by pointing to the nation’s mountain of debt.
Source: CNN - 🏆 4. / 95 Read more »

Writers union and Hollywood will resume talks, aiming to end the strike | CNN BusinessHollywood studios on Tuesday asked the Writers Guild back to the negotiating table in the first known talks since the nearly 100-day strike brought production of most television shows and movies to a halt.
Source: CNN - 🏆 4. / 95 Read more »