Jobs report released: 131,000 jobs lost in July
While private employers added 71,000 in July, the economy lost 131,000 jobs overall and unemployment remained unchanged at 9.5 percent. Many of the job losses were due to the expected reduction in Census Bureau staff. The numbers put increased pressure on Washington to find ways to help the economy.
Lakshman Achutan, managing director of the Economic Cycle Research Institute, analyzes the report and what it could mean for you and where jobs are headed in the months ahead.
The story you just read is available to read for free because thousands of listeners and readers like you generously support our nonprofit newsroom. Every day, the reporters and producers at The World are hard at work bringing you human-centered news from across the globe. But we can’t do it without you: We need your support to ensure we can continue this work for another year.
When you make a gift of $10 or more a month, we’ll invite you to a virtual behind-the-scenes tour of our newsroom to thank you for being with The World.