The U.S. job market just hit a major red flag. Only 73,000 jobs were added in July, far below expectations, and the Labor Department quietly revised May and June reports downward by a combined 258,000 jobs. The unemployment rate ticked up to 4.2%.
Translation: The so-called economic comeback under President Donald Trump’s second term is showing signs of strain. What’s driving the slowdown? Experts point to fallout from Trump’s trade agenda, massive tariffs, rising business costs and global uncertainty.
Manufacturing alone lost 11,000 jobs in July, marking the third straight monthly decline.
Even federal employment is shrinking, with 12,000 jobs cut last month. About 76% of July’s job growth came from healthcare, meaning nearly every other sector was either flat or losing jobs.
Wall Street noticed — the market took a dive on the news.
The Trump White House calls it a sign of economic resilience. Economists say it’s a warning sign.
Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.
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