The Labor Department on Friday reported that employers added 114,000 jobs in July, missing the 175,000 gain forecast by LSEG economists. The unemployment rate also unexpectedly inched higher to 4.3% against expectations that it would hold steady at 4.1%.
The U.S. economy suffered an unexpected setback in July, as hiring fell sharply and the unemployment rate rose for the fourth straight month as sustained higher interest rates take a toll on businesses and consumers.
Friday’s report from the Labor Department showed that employers added just 114,000 jobs in July – 35% fewer than forecasters had expected – and that unemployment, now up to 4.3%, is the highest since October 2021.
“Things are deteriorating quickly,’’ said Julia Pollak, chief economist at the job marketplace ZipRecruiter. The news shook financial markets around the world.
But guess who Commala blames, even though he has no levers of power:
Vice President Kamala Harris’ campaign is blaming former President Trump for the latest negative jobs report — nearly a full term after he left office.
"Donald Trump failed Americans as president, costing our economy millions of jobs, and bringing us to the brink of recession," Harris for President spokesperson James Singer said in a statement.
"Now, he’s promising even more damage with a Project 2025 agenda that will decimate the middle class and increase taxes on working families, while ripping away health care, raising prescription drug costs, and cutting Social Security and Medicare — all while making his billionaire donors richer."
Harris blames Trump for latest dreadful jobs report nearly a full term after he left office
July marked the highest level for the jobless rate since October 2021
https://www.foxnews.com/politics/harris-blames-trump-latest-dreadful-jobs-report-nearly-full-term-after-he-left-officehttps://twitchy.com/amy-curtis/2024/08/02/july-jobs-report-is-bad-n2399157
