Ansarollah Website – Reports
The US economy lost approximately 23,000 jobs in July due to the ongoing fallout from the war against Iran, the US Bureau of Labor Statistics reported on Friday. The contraction came contrary to market expectations, which had projected the addition of around 80,000 non-farm payrolls.
According to the official data, non-farm payrolls decreased by 23,000 in July, following a revised loss of 20,000 jobs in June.
The report noted that the unemployment rate edged down to 4.1% in July, compared to 4.2% in June.
The total number of unemployed individuals stood at approximately 6.9 million in July, down from 7.09 million in the preceding month.
The payroll and unemployment metrics are derived from two separate surveys: the establishment survey, which tracks corporate payrolls, and the household survey, which measures employment status among individuals. Consequently, trends between the two measures may diverge within the same reporting period.
The US military operations against Iran continue to weigh heavily on broader economic activity, including the domestic US economy. Severe supply chain disruptions have driven up operational costs for enterprises, forcing workforce reductions, alongside the compounding adverse effects of the trade war and heightened customs tariffs.
