US Economy Sheds 23,000 Jobs in July Amid Growth Slump
The US economy experienced an unexpected downturn in July, shedding 23,000 jobs and undershooting forecasts. This job loss indicates a continued slump in growth, potentially exacerbated by ongoing conflict in the Middle East.
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US economy undershoots forecasts to shed 23,000 jobs in July
Lacklustre figure complicates Fed’s decision over raising rates
Read full article →US lost 23,000 jobs in July as slump in growth continues amid Middle East conflict
Estimates for previous two months were revised down sharply but unemployment rate held steady at 4.1% Business live – latest updates US employers unexpectedly lost 23,000 jobs in July and job gains for the previous two months were revised down sharply, as the summer slump in job growth continued amid ongoing conflict in the Middle East. The unemployment rate, however, held steady at 4.1%. Economists had projected an unchanged unemployment rate and 83,000 new jobs for the month. Continue re...
By Michael Sainato
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