US job market stalled in July as employers cut 23,000 jobs
- U.S. employers cut 23,000 jobs in July, marking an unexpected stall in the job market.
- Labor Department revisions reduced payrolls by 103,000 jobs for May and June.
- The unemployment rate fell to 4.1% due to a decline in the labor force participation rate.
- Local public schools cut 50,000 jobs, while restaurants and bars cut 26,000 jobs in July.
- Average hourly pay increased by 3.2% year-over-year, the smallest gain since May 2021.
The U.S. job market unexpectedly stalled in July as employers cut 23,000 jobs, delivering a political setback for President Trump ahead of the midterm elections. Labor Department revisions also slashed 103,000 jobs from payrolls in May and June. The unemployment rate dipped to 4.1%, but this was due to a significant number of Americans leaving the job market, with 264,000 people dropping out in July alone.
Local public schools were notably affected, cutting 50,000 jobs, while the restaurant and bar sector cut 26,000 jobs. Despite these losses, there were some gains in construction and manufacturing, with 22,000 and 5,000 jobs added respectively. However, the overall picture remains bleak as the labor market shows signs of stalling.
Average hourly wages increased by 3.2% from the previous year, marking the smallest year-over-year increase since May 2021. This modest wage growth occurs amid rising living costs, presenting challenges for American families and complicating the Federal Reserve's decisions regarding interest rates.
美国就业市场在7月停滞，雇主裁减23,000个职位
美国就业市场在7月意外停滞，雇主裁减了23,000个职位，这对特朗普总统在中期选举前造成了政治打击。劳工部的修订还将5月和6月的就业人数削减了103,000个。失业率降至4.1%，但这是由于大量美国人退出劳动力市场，单在7月就有264,000人退出。
地方公立学校受到显著影响，裁减了50,000个职位，而餐馆和酒吧部门裁减了26,000个职位。尽管有建筑和制造业的职位增加，分别增加了22,000和5,000个，但整体情况依然严峻，就业市场显示出停滞的迹象。
平均时薪同比增长3.2%，为2021年5月以来的最小增幅。在生活成本上升的背景下，这一温和的工资增长给美国家庭带来了挑战，也使得美联储在利率决策上面临复杂局面。