FILE - A job seeker waits to talk to a recruiter at a job fair Aug. 28, 2025, in Sunrise, Fla. (AP Photo/Marta Lavandier, File)
The U.S. economy unexpectedly lost 23,000 jobs in July, a surprisingly weak report that quickly shifted expectations for the Federal Reserve’s next move on interest rates. A Dow Jones poll of economists had forecast a median gain of 83,000 jobs, putting the headline number 106,000 below expectations.
Now add in revisions that brought the May and June numbers down by 103,000 from previously reported levels, along with an earlier revision that brought May down an additional 43,000. Taken together, the July miss and downward revisions amount to a 252,000-job gap from what had previously been expected or reported.
The numbers show a jobs picture considerably weaker than expected. With all the uncertainty throughout the economy, what the Fed will decide next is tough to guess.
Jobs Report Shifts Fed Rate Expectations
