US job market stalled in July as employers cut 23,000 jobs
- U.S. employers cut 23,000 jobs in July, unexpectedly stalling the job market.
- Labor Department revisions reduced May and June payrolls by 103,000 jobs.
- The unemployment rate fell to 4.1% due to a significant number of Americans leaving the job market.
- Local public schools cut 50,000 jobs, while restaurants and bars cut 26,000 jobs.
- Average hourly pay increased by only 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, marking a significant setback for the economy just months before the midterm elections. Labor Department revisions also indicated that 103,000 jobs were removed from payrolls in May and June, raising concerns about the labor market's health.
The unemployment rate fell to 4.1%, but this decline was misleading, as it was primarily due to 264,000 individuals leaving the labor force. The participation rate dropped to 61.4%, the lowest level since February 2021, indicating fewer people are competing for jobs.
Job losses were particularly pronounced in local public schools, which cut 50,000 positions, while the restaurant and bar sector saw a reduction of 26,000 jobs. In contrast, the manufacturing sector added 22,000 jobs, suggesting some areas of growth remain amid broader declines.
Average hourly earnings increased by only 3.2% from the previous year, the smallest increase since May 2021, which could further complicate the financial situation for American families facing rising living costs. This report may influence the Federal Reserve's decisions regarding interest rates as they assess the overall health of the job market.
美国就业市场在7月停滞，雇主裁员23000个岗位
美国就业市场在7月意外停滞，雇主裁减了23000个岗位，这在中期选举前几个月为经济带来了显著的挫折。劳工部的修订还显示，5月和6月的就业人数减少了103000个，这引发了对劳动市场健康状况的担忧。
失业率降至4.1%，但这一下降具有误导性，因为主要是由于264000人退出了劳动市场。参与率下降至61.4%，为2021年2月以来的最低水平，这表明竞争工作的人数减少。
地方公立学校的岗位损失尤为明显，裁减了50000个职位，而餐饮业则减少了26000个岗位。相反，制造业增加了22000个岗位，这表明在更广泛的下降中仍然存在某些增长领域。
平均时薪同比仅增长3.2%，为2021年5月以来的最低增幅，这可能进一步复杂化面临生活成本上升的美国家庭的财务状况。这份报告可能会影响联邦储备委员会在评估劳动市场整体健康状况时对利率的决策。