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July 2026 jobs report: US economy unexpectedly shed jobs
Osac Chief Market Strategist Phil Blancato advises investors to strip emotions from their investment decisions.
This story about the July 2026 jobs report will be updated with further details.
The U.S. economy unexpectedly shed jobs in July amid headwinds caused by elevated inflation and uncertainty over the Iran war’s economic impact.
What are the key findings of the July 2026 jobs report?
The Bureau of Labor Statistics on Thursday reported that employers cut 23,000 jobs in June. That figure was well below the estimate of economists polled by LSEG, who estimated 80,000 jobs would be added.
The unemployment rate dipped to 4.1%, which was also below the estimate of 4.3%.
Revisions were made to the payroll numbers for the prior two months, with May revised down by 66,000 from a gain of 129,000 to 63,000; while June’s report was revised down by 37,000 from a gain of 57,000 to 20,000.
Taken together, employment in May and June combined was 103,000 jobs lower than previously reported.
Construction at Fort St. Vrain Generating Station in Platteville, Colorado, on March 9, 2026. (Chet Strange/Bloomberg via Getty Images)
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