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The U.S. economy shed 23,000 jobs in July, far below forecasts of an 83,000 gain, shifting trader expectations away from a September rate hike
Renovation work continues on the Marriner S. Eccles Federal Reserve Board Building, the main offices of the Board of Governors of the Federal Reserve System on December 9, 2025 in Washington, DC. (Andrew Harnik/Getty Images)
U.S. stocks climbed Friday after a weaker-than-expected July jobs report led traders to pull back their bets on a Federal Reserve interest rate increase next month. The S&P 500 advanced 0.3%, the Nasdaq $NDAQ Composite climbed 0.9%, and the Dow Jones Industrial Average finished up 67 points, or 0.1%.
The economy shed 23,000 jobs in July, well short of the 83,000 gain economists polled by Dow Jones had forecast. Revisions to May and June payrolls showed 103,000 fewer jobs were added in those months than previously reported, according to The Wall Street Journal. The unemployment rate ticked down to 4.1% from 4.2%, while the labor force participation rate slid to a more-than-five-year low.
