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July Job Losses 23,000 Defy Trump’s Growth Claims

8/7/2026

Summary

Story summary

The Labor Department reported a loss of 23,000 jobs in July, contradicting President Donald Trump’s booming-economy claim.
Economists had forecast July gains of 83,000 to 95,000.
The Labor Department revised May and June gains downward by 103,000, cutting June to 20,000 and May to 66,000.
Job losses were concentrated in local government and leisure-hospitality, while the unemployment rate fell from 4.2 percent to 4.1 percent as workers left the labor force.

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Story summary

The Labor Department reported a loss of 23,000 jobs in July, contradicting President Donald Trump’s booming-economy claim.
Economists had forecast July gains of 83,000 to 95,000.
The Labor Department revised May and June gains downward by 103,000, cutting June to 20,000 and May to 66,000.
Job losses were concentrated in local government and leisure-hospitality, while the unemployment rate fell from 4.2 percent to 4.1 percent as workers left the labor force.