Key Points:
Job growth turned negative for the first time since February, though private sector employment increased by 30K.
- The negative headline number was due in part to a 50K worker reduction in employment across local government-owned educational institutions.
Monthly Change in Nonfarm Employment
The unemployment rate fell by 0.1pp in July despite the reduction in employment.
- The percentage of workers on permanent layoff fell to the lowest level seen since 2025.
Unemployment by Reason
