Market Flux Event
U.S. Unexpectedly Sheds 23,000 Jobs in July as Prior Months Revised Sharply Lower
The U.S. economy lost 23,000 jobs in July, defying expectations for an 80,000 gain, while the unemployment rate fell to 4.1% from the anticipated 4.2%. The Bureau of Labor Statistics revised May and June payrolls downward by a combined 103,000 positions, with government jobs declining by 53,000 in July.
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Sources
- FirstSquawkU.S NONFARM PAYROLLS (JUL) ACTUAL: -23K VS 57K PREVIOUS; EST 80K
- DeItaoneU.S. JULY GOVERNMENT JOBS -53,000
- Coin DeskThe U.S. lost 23,000 jobs in July, far shy of forecasts for a gain of 80,000
- Sino_MarketUS May and June nonfarm payrolls revised down 103k Bureau of Labor Statistics: May nonfarm payrolls revised from 129k to 63k; June revised from 57k to 20k. Combined downward revision of 103k. NFP ( )
- CNBCU.S. economy unexpectedly lost 23,000 jobs in July