U.S. payroll growth in July was slower than expected with just 73,000 new jobs added to the U.S. economy (lowest since last October) and the unemployment rate ticked higher to 4.2%.
U.S. added just 73,000 jobs in July and numbers for prior months were revised much lower https://t.co/UiScTHwOjz
— CNBC (@CNBC) August 1, 2025
From the Bureau of Labor Statistics:
Total nonfarm payroll employment changed little in July (+73,000) and has shown little change since April.
Over the month, employment continued to trend up in health care and in social assistance. Federal government continued to lose jobs.
Revisions for May and June were larger than normal.
The change in total nonfarm payroll employment for May was revised down by 125,000, from +144,000 to +19,000, and the change for June was revised down by 133,000, from +147,000 to +14,000.
With these revisions, employment in May and June combined is 258,000 lower than previously reported.
So, with these revisions, the U.S. created just 33,000 jobs total in May and June, while July’s number came in soft, too. That would be enough time to see adjustments by employers following Trump’s executive orders (including his tariff TACO threats) in February and March.
The experts at CNBC say “the weak report, including the dramatic revisions, could provide incentive for the Federal Reserve to lower interest rates when it next meets in September.”
Read more at CNBC.
Fox Biz commentator on the July jobs report: “This was a very weak report. The revisions certainly to May and June are very concerning. I’m surprised that unemployment is just at 4.2% … we do see a softening jobs market … I’m concerned about the labor market.” pic.twitter.com/hRTEz2JzJV
— Aaron Rupar (@atrupar) August 1, 2025
(graphic via CNBC)Discover more from The Randy Report
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