Episode Details

The US job market took a surprising hit in July, losing 23,000 jobs despite expectations of growth—thanks to more people dropping out of the workforce. Revised data showed weaker gains in June and May, with economists expecting nearly 95,000 new jobs instead getting just 20,000. Healthcare added over 22,000 roles, but other sectors like local government and hospitality lost ground. Wage growth stalled at just 0.1% monthly, with annual growth hitting a five-year low at 3.2%, while inflation eats into paychecks. Even though the numbers look shaky, markets reacted positively, betting the Fed may pause rate hikes in September.

Listen in comfort:
Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn.

Advertise on DNN:
advertise@thednn.ai

This is an automated, high-level news summary based on public reporting.
Report issues to feedback@thednn.ai.

View sources & latest updates:
https://sources.thednn.ai/63803b90afb625d4