Contentious July Jobs Report Confirms Slowdown
The U.S. labor market is showing clear signs of slowing. In July, employers added just 73,000 jobs, down from last year’s 114,000. Revisions to May and June numbers show much weaker growth than initially reported. Layoffs spiked, with over 62,000 job cuts, and the unemployment rate ticked up to 4.2%. Economists warn these trends may signal a cautious economic environment and potential recessions ahead. (Source: CNBC)
