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- ⚠️The US labor market suggests the economy is in a recession
⚠️The US labor market suggests the economy is in a recession
Massive downward job revisions continue, and it is not over yet
Global Markets Investor
August 04, 2025
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The Bureau of Labor Statistics (BLS) estimates the US economy created 73,000 jobs in July, according to a report released August 1. This was below Wall Street’s expectations of 106,000.
The unemployment rate rose to 4.2%, in-line with expectations of 4.2%. Unrounded, the jobless rate was 4.248%, the highest since October 2021. By comparison, it was 4.244% in May.
At the same time, the unemployment rate for Black workers jumped to the highest since October 2021.
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As a reminder, these are initial and imprecise estimates and are subject to subsequent revisions.
Behind the paywall, you will find out the full analysis of the US labor market, including forward-looking indicators, job openings, and layoffs data.
FREE REPORT EXAMPLES INCLUDING THE JUNE’S ONE ARE LINKED BELOW
Links to the previous months’ reports are also below.
MASSIVE DOWNWARD REVISIONS CONTINUE
