New labor data shows the U.S. economy lost 23,000 jobs in July, when economists had predicted modest growth. Revised numbers for May and June also show 103,000 fewer jobs created than originally reported. The unemployment rate ticked down, from 4.2% to 4.1%, a function of fewer people seeking jobs. Amna Nawaz discussed the numbers with Heather Long, chief economist with Navy Federal Credit Union.Notice: Transcripts are machine and human generated and lightly edited for accuracy. They may contain errors.

Heather Long, Chief Economist, Navy Federal Credit Union:

Thanks for having me.

Amna Nawaz:

So this is not the jobs report many people were expecting. Where do you see the biggest weaknesses here?