POLISCOPE
Back to feed
NewsABC Action News (WFTS) — NewsAugust 7, 2026Hillsborough

U.S. economy loses 23,000 jobs in July as inflation persists

The U.S. economy lost 23,000 jobs in July, marking the end of a four-month growth streak as inflation remains above 3.5%. The unemployment rate held steady at 4.1%, while labor force participation and the employment-population ratio both saw declines.

economyemploymentinflationlabor market
Read the full story at ABC Action News (WFTS) — News

Why It Matters

The report indicates a cooling labor market where wage growth is failing to keep pace with , affecting the purchasing power and job security of the national workforce.

Key Facts

  • The U.S. economy lost 23,000 jobs in July.
  • June job gains were revised downward to 20,000 jobs.
  • The national unemployment rate remained at 4.1% in July.
  • The labor force participation rate has fallen by 1 percentage point since November.
  • Weekly earnings rose 3.4% over the past year, trailing the current inflation rate of over 3.5%.
  • Private-sector employers added 44,000 jobs in July according to ADP data.
  • The 10-year monthly average for job growth is 123,641 jobs.
  • Monthly job growth has exceeded the 10-year average only three times in the last 19 months.

Who's Mentioned

organizationBureau of Labor Statistics“Federal agency that released the employment report.”organizationADP“Private firm that tracks employment data.”personNela Richardson“Chief economist at ADP.”