Employment report expected to show a rebound in hiring, but with stagnant wages
· Telemundo McAllen (KTLM)
The U.S. economy lost 23,000 jobs in July, indicating instability in the labor market after four months of positive growth. The unemployment rate slightly decreased to 4.1%. Economists had anticipated an addition of 83,000 jobs, surpassing June's 57,000. The Bureau of Labor Statistics revised previous months' job figures downward by 103,000. Notably, local government education jobs fell by 50,000, likely due to summer breaks. Meanwhile, health sector employment rose by 22,000, though at a slower pace than previous months. Following the report, stock futures rose while Treasury bond yields dropped significantly.
AI summary · Source: Telemundo McAllen (KTLM) →
