Bloomberg Surveillance · Friday, August 7, 2026
The US economy unexpectedly lost 23,000 jobs in July, a significant miss compared to the expected 80,000 additions. Concurrently, the unemployment rate decreased to 4.1% from 4.2%, defying expectations of remaining steady. Average hourly earnings also showed slower growth, up only 0.1% month-over-month.
“The July jobs report crossing the Bloomberg terminal right now, and it shows that the US economy actually lost twenty three thousand jobs in the month of July.”
“This is a lot less than the eighty thousand we were expecting to be added, and we added fifty seven thousand in the month of June.”
“Moving to the unemployment rate, it dipped to four point one percent versus the prior month's four point two percent. The expectation was for four point two percent.”