US jobless claims fell to 4.1% in July despite losing 23,000 jobs, marking the third-largest monthly loss since the 2020 pandemic.
Macro & Markets ·
The US labor market shed 23,000 jobs in July, falling sharply below the expected gain of 85,000 jobs, while the unemployment rate declined to 4.1% contrary to forecasts of 4.2%. June's employment figure was revised downward by 37,000 positions. This represents the third-largest monthly job loss since 2020.