@ericnomics: July jobs report just broke the rate hike bet. The US economy unexpectedly lost 23,000 jobs in July. Wall Street expected a gain of 83,000. But the revisions are the real story. BLS cut May by 66,000 and June by 37,000 — over 100,000 jobs we were told we added that we never actually did. And yes, the unemployment rate went DOWN to 4.1%. That is not good news. Labor force participation fell to 61.4%, the lowest in over five years. The number got better because people stopped looking, not because they found work. Yesterday traders had a September Fed rate hike near a coin flip. Today most of them think the Fed does nothing

Eric | Personal Finance

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Friday 07 August 2026 16:21:15 GMT