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July Jobs Slip 23K, Unemployment 4.1%, Fed Split

8/7/2026

39 2 Full Breakdown

Summary

U.S. Jobs Slip

The U.S. economy lost 23,000 jobs in July 2026, bringing the unemployment rate down to 4.1%.
Labor Department revisions cut May and June payroll gains by a total of 103,000 jobs.
Private payrolls rose 30,000, government payrolls fell 53,000, retail lost 19,000 and healthcare added 22,000 jobs.
Three Federal Reserve (Fed) committee members dissented, preferring a 0.25-point hike that pushed September-hike odds down to 55% (later 40%).

Summary

Trump Rating Plummets

A YouGov/Economist poll gives President Donald Trump a –35 rating on the economy (30 % approve, 65 % disapprove).
Democrats are using the weak July job numbers to argue the administration’s economic revival claim is false.
Labor Department revisions cut May and June payroll gains by 103,000 jobs, prompting opposition lawmakers to question the administration’s data transparency.

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U.S. Jobs Slip

The U.S. economy lost 23,000 jobs in July 2026, bringing the unemployment rate down to 4.1%.
Labor Department revisions cut May and June payroll gains by a total of 103,000 jobs.
Private payrolls rose 30,000, government payrolls fell 53,000, retail lost 19,000 and healthcare added 22,000 jobs.
Three Federal Reserve (Fed) committee members dissented, preferring a 0.25-point hike that pushed September-hike odds down to 55% (later 40%).

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