US hiring falters in July as unemployment rate edges higher
By: | Published: 2025-08-04 05:50:00 | Source: atlanticcitynews.net
WASHINGTON, D.C.: The U.S. labor market lost momentum in July, with job growth slowing more than expected and major downward revisions to prior months adding to concerns about the strength of the economy. The data has renewed speculation that the Federal Reserve may cut interest rates as soon as September.
The Labor Department said on August 1 that nonfarm payrolls rose by just 73,000 last month, well below the 110,000 economists had forecast. June’s job gain was revised down to 14,000, the weakest monthly increase in nearly five years. May’s figures were also slashed, from 144,000 to just 19,000 jobs, resulting in a combined revision of 258,000 fewer jobs than previously reported.
“The labor market is not rolling over, but it is badly wounded and may yet bring about a…
