π US jobs report misses expectations in July
US employers unexpectedly lost 23,000 jobs in July, with employment declining in local government education and retail trade. This data was reported by the U.S. Bureau of Labor Statistics, showing the unemployment rate held steady at 4.1 percent. Revisions showed employment gains for the previous two months were sharply down by 103,000. Bessent suggests these reports understate the real economy's underlying strength. Future outlook depends on how the market interprets these fluctuating employment figures.