🚨 BREAKING 🚨 July jobs report misses expectations.

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26 segments

0:00

of 23,000 a drop of 23,000 jobs in the

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month of July. And not only that, the

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prior month, the month of June, being

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revised lower to 20,000 from 57,000.

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So that two-month payroll net revision

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down by 103,000. Uh manufacturing

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payroll is actually growing more than

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expected by 5,000 versus the 4,000 that

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was expected and uh actually being

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revised higher in June to 11,000 from

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3,000. So strong manufacturing picture,

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not strong um ex manufacturing. Average

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hourly earnings ticking up less than

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estimated only by a tenth of 1%. Average

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hourly earnings on a year-over-year

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basis up 3.2%. And the labor force

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participation rate going down, not up to

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61.4%.

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The unemployment rate coming in also

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ticking down perhaps because we've got

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that decrease in labor force

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participation 4.1%.

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The reading on the unemployment rate

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that is a tenth of a percent better than

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estimated and a tenth of a percent lower

1:01

than the prior

Interactive Summary

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The report highlights a mixed labor market performance in July, characterized by a net payroll decline of 23,000 jobs, further compounded by downward revisions for the previous month. While the overall picture shows weakness, the manufacturing sector performed better than anticipated. Additionally, average hourly earnings grew slightly below estimates, and the unemployment rate decreased to 4.1%, partly due to a reduction in labor force participation.