U.S. unexpectedly lost jobs
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A weak jobs report could make widely expected Fed’s rate hikes less likely, to the benefit of would-be buyers—but at a cost.
Scan the topline numbers of this month’s jobs report, and you’ll wind up with two wildly different impressions.
The Bureau of Labor Statistics is scheduled to release the July employment report on Friday, and economists expect it to show U.S. employers added 83,000 in July.
New clouds darkened the economic landscape on Friday, as the latest employment report showed the nation shedding 23,000 jobs in July. The number came as an unpleasant surprise to most economists. The consensus prediction from experts canvassed by Dow Jones had been that more than 80,
U.S. employers shed 23,000 jobs and the unemployment rate fell to 4.1% in July, new Labor Department data shows.
Major indexes rose Friday, led by a rally in tech stocks, as investors digested a surprising report on the labor market. The tech-heavy Nasdaq Composite was up 1% recently, while the benchmark S&P 500 and the Dow Jones Industrial Average added 0.
Friday's jobs report shed light on the state of the labor market, with the federal government's payroll figures for July