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Daily Read: Business

US Jobs Report Falls Short of Expectations

The July jobs report showed a decline of 23,000 jobs, contrary to predictions. Average hourly earnings saw a modest increase, but the labor force participation rate decreased. The unemployment rate also ticked down, driven by a drop in the labor force participation rate.

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The essential points

  1. 01US jobs report revealed a loss of 23,000 jobs in July.
  2. 02Average hourly earnings rose less than expected, by a tenth of 1%.
  3. 03Labor force participation rate dropped to 61.4%, down from previous levels.
  4. 04Unemployment rate decreased to 4.1%, beating estimates by a tenth of a percent.
The full brief

The July jobs report showed a decline of 23,000 jobs, contrary to predictions. Average hourly earnings saw a modest increase, but the labor force participation rate decreased. The unemployment rate also ticked down, driven by a drop in the labor force participation rate.