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EconomyUS Economy Shed 23,000 Jobs in July as Government Cuts Outweighed Private HiringBankingOnline Savings Accounts Still Paying Over 4% APY While Most Banks Average Just 0.38%InflationNY Fed Survey: Consumers' One-Year Inflation Outlook Eased to 3.6% in JulyDebtMarkets Put 82% Odds on a September Rate Hike, Signaling Higher Borrowing Costs AheadConsumer NewsUS Food Prices Up 3.8% From Last Year, With Eggs and Cooking Oils Still Among the CostliestEconomyUS Economy Shed 23,000 Jobs in July as Government Cuts Outweighed Private HiringBankingOnline Savings Accounts Still Paying Over 4% APY While Most Banks Average Just 0.38%InflationNY Fed Survey: Consumers' One-Year Inflation Outlook Eased to 3.6% in JulyDebtMarkets Put 82% Odds on a September Rate Hike, Signaling Higher Borrowing Costs AheadConsumer NewsUS Food Prices Up 3.8% From Last Year, With Eggs and Cooking Oils Still Among the Costliest
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Today’s Lead Story
Tuesday, August 11

Economy

US Economy Shed 23,000 Jobs in July as Government Cuts Outweighed Private Hiring

via Bureau of Labor Statistics

The US economy lost 23,000 nonfarm payroll jobs in July 2026 — far below forecasts of roughly 83,000 — after government payrolls fell by 53,000 and offset gains in the private sector. Wage growth slowed to 3.2% annually, its softest pace since 2021, while labor force participation dropped to 61.4%, a five-year low.

Why it matters

A softening job market makes it harder to absorb rising costs, so households should review emergency fund balances and any variable-rate debt they carry while conditions are uncertain.

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