CoinDesk·4 min read·medium
U.S. unexpectedly shed 23,000 jobs in July, putting Fed rate hikes in question
J
James Van Straten
✦AI Summary
The U.S. economy unexpectedly lost 23,000 jobs in July, falling significantly short of market expectations. This data has led to a decrease in market confidence regarding potential Federal Reserve interest rate hikes in September.
According to the government’s Nonfarm Payrolls Report released Friday morning, the U.S. lost 23,000 jobs last month. That was far below the consensus expectation of a gain of 80,000 jobs, and down from June’s addition of 20,000 (revised down from an originally reported 57,000).
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