US job growth stalls: Just 73,000 jobs added in July, with 'stunning' downward revisions to recent months

[UpInArms]

This discussion thread was locked as off-topic by Emile (a host of the Latest Breaking News forum).

Source: CNN

The US job market slowed sharply in July and was substantially weaker than first estimated for prior months, suggesting President Donald Trump’s trade policy may be stifling hiring.

The US economy added just 73,000 jobs last month, and the monthly totals for May and June were revised down by a combined 258,000 jobs.

The prior two months’ revisions were “stunning,” said Diane Swonk, chief economist at KPMG, in an interview with CNN.

May’s estimated 144,000 net gain was revised down by 125,000 to 19,000; and June’s preliminary tally of 147,000 was slashed by 133,000 to 14,000, according to data released Friday from the Bureau of Labor Statistics.

Read more: https://www.cnn.com/2025/08/01/economy/us-jobs-report-july

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Wow … there is no sugar coating for what this is … an economic disaster

[kerouac2]

1. Huge revisions

Those seem like huge amounts to be off by.

[UpInArms]

2. From the article

The 253,000 downward revisions to May and June was the largest since at least 1979 (with the exception of 2020), according to Ernie Tedeschi, director of economics at the Budget Lab at Yale.

The outsized correction is reflective of an extremely volatile economic environment, KPMG’s Swonk said. “The data was meant for historic norms for an economy that typically moves more slowly.”

All told, the July report showed a “weaker underbelly for the US economy,” said Daco.

“This type of very weak job growth momentum is essentially eroding the economy’s buffer against headwinds,” he said. “And and in an environment where the US economy is subject to historic supply shocks, that will essentially expose it to the risk of a recession.”

[ancianita]

3. Thankful that we have to stay tuned for DU's dedicated economy analysts to provide us with the deep dives

into the data ...I can't wait to learn why this is a disaster, and how the spin on the numbers has been done.

[UpInArms]

5. A one legged stool is what we now have

That lack of breadth was wildly apparent in July: Health care and social assistance, which added 73,300 jobs, accounted for the entirety of the month’s overall gains.

“There was a three-legged stool holding up the labor market; we had state and local, leisure and hospitality, and health care and social assistance,” Swonk said. “And now we’re down to one.”

“A one-legged stool is dangerous,” she added.

[ancianita]

6. Thanks for emphasizing the parts that make my eyes glaze over.

I wonder, though, if the state and local at red state levels, would be on the level, anyway. That with this so-called administration I highly doubt that we are ever going to get data that shows any reality on the ground.

This country is already on Civicus's Watchlist, that puts it on par with Turkey, Serbia, El Salvador, Indonesia and Kenya.

Over the next three years Americans of all income classes could be devastated with the sick, homeless, jobless and dying, and the world would be told that our economic and social health is the greatest in history.

[UpInArms]

8. Thanks for that link

I fear that we are well on our way to being a third world country

[ancianita]

14. Sure, happy to.

From what I've read we're well on our way in the important areas. I can't even find where we are on the Sustainable Development Report's rankings.

[BaronChocula]

10. Fitting because

Now we're about down to one branch of government.

[Justice matters.]

4. Stocks are beginning to fall.

-1.50% DJI
-1.75% S&P

https://www.barrons.com/livecoverage/trump-tariffs-april-2-liberation-day-news/card/u-s-chamber-of-commerce-sounds-warning-on-tariff-impact-uUJwtTaNoZ5xP2J8799Y

Edited to add live coverage link.

[BaronChocula]

9. Is Pissgoblet bragging about that on untruth antisocial?

Because he was bragging over the report of second quarter growth the other day.

After it was reported that the economy had healthy growth in Q2, some people here (LisaL) reported on eyewitnessing proof of an employment downturn. It looks like they were right.

This is just a little more of the tip.

[UpInArms]

11. That number was

Jiggered because there were no imports to offset.

It was meaningless

[BaronChocula]

12. I know, I just didn't want

to get into those weeds in the comment. But it begs repeating .

[BaronChocula]

15. And now, this just in...

Trump directs commissioner of labor statistics to be fired after weaker-than-expected jobs figures slam markets
https://www.democraticunderground.com/10143505506

[UpInArms]

16. Kill the messenger

to control the message

[maxsolomon]

13. Stunning! I'm flabbergasted!

Who could have predicted that deliberately fomenting global trade instability would impact domestic hiring?

Well, everyone who isn't a Trumpist grifting dipshit could have. Diane Swonk probably isn't THAT stunned.

[Emile]

17. After an alert to the hosts, locking.

This is a duplicate of the same news story posted earlier.

Dupe of this - https://www.democraticunderground.com/10143505265