A California unemployment benefits form is shown Wednesday, July 8, 2026, in Detroit. (AP Photo/Paul Sancya)
The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store and gas station are more painful than they were last year, and rising costs are impacting the decisions of both households and businesses.
Here’s a snapshot of prominent economic data and news that occurred over the past week and what it potentially means for you.
U.S. employers unexpectedly cut 23,000 jobs last month, and Labor Department revisions shaved 103,000 jobs off payrolls in May and June. The unemployment rate dipped to 4.1% only because Americans left the job market.
The July jobs numbers from the Labor Department Friday marked a sharp reversal for the American labor market and a political setback for President Donald Trump less than three months before his Republican party seeks to keep full control of Congress in the midterm election.
