U.S. Sheds 23K Jobs in July, Labor Participation at 5-Year Low
The U.S. lost 23,000 jobs in July as the labor force participation rate fell to 61.4%—its lowest since early 2021. Wage growth slowed to 3.2% YoY, now trailing inflation, and the private sector added just 30,000 positions. HR leaders must prepare for a looser labor market, harder-to-fill roles, and evaporating wage leverage.