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UpInArms

(53,403 posts) Fri Aug 1, 2025, 01:21 PM Aug 1

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

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

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

17 replies

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Highlight:

US job growth stalls: Just 73,000 jobs added in July, with 'stunning' downward revisions to recent months (Original Post) UpInArms Aug 1 OP

Huge revisions kerouac2 Aug 1 #1

From the article UpInArms Aug 1 #2

Thankful that we have to stay tuned for DU's dedicated economy analysts to provide us with the deep dives ancianita Aug 1 #3

A one legged stool is what we now have UpInArms Aug 1 #5

Thanks for emphasizing the parts that make my eyes glaze over. ancianita Aug 1 #6

This message was self-deleted by its author ancianita Aug 1 #7

Thanks for that link UpInArms Aug 1 #8

Sure, happy to. ancianita Aug 1 #14

Fitting because BaronChocula Aug 1 #10

Stocks are beginning to fall. Justice matters. Aug 1 #4

Is Pissgoblet bragging about that on untruth antisocial? BaronChocula Aug 1 #9

That number was UpInArms Aug 1 #11

I know, I just didn't want BaronChocula Aug 1 #12

And now, this just in... BaronChocula Aug 1 #15

Kill the messenger UpInArms Aug 1 #16

Stunning! I'm flabbergasted! maxsolomon Aug 1 #13

After an alert to the hosts, locking. Emile Aug 1 #17

kerouac2

(1,278 posts)

1. Huge revisions

Reply to UpInArms (Original post)

Fri Aug 1, 2025, 01:27 PM

Aug 1

Those seem like huge amounts to be off by.

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UpInArms

(53,403 posts)

2. From the article

Reply to kerouac2 (Reply #1)

Fri Aug 1, 2025, 01:29 PM

Aug 1

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.”

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ancianita

(41,827 posts)

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

Reply to UpInArms (Original post)

Fri Aug 1, 2025, 01:29 PM

Aug 1

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

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UpInArms

(53,403 posts)

5. A one legged stool is what we now have

Reply to ancianita (Reply #3)

Fri Aug 1, 2025, 01:31 PM

Aug 1

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.

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ancianita

(41,827 posts)

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

Reply to UpInArms (Reply #5)

Fri Aug 1, 2025, 01:51 PM

Aug 1

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.

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Response to ancianita (Reply #6)

ancianita This message was self-deleted by its author.

UpInArms

(53,403 posts)

8. Thanks for that link

Reply to ancianita (Reply #6)

Fri Aug 1, 2025, 02:09 PM

Aug 1

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

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ancianita

(41,827 posts)

14. Sure, happy to.

Reply to UpInArms (Reply #8)

Fri Aug 1, 2025, 02:29 PM

Aug 1

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.

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BaronChocula

(3,333 posts)

10. Fitting because

Reply to UpInArms (Reply #5)

Fri Aug 1, 2025, 02:20 PM

Aug 1

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

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Justice matters.

(8,879 posts)

4. Stocks are beginning to fall.

Reply to UpInArms (Original post)

Fri Aug 1, 2025, 01:30 PM

Aug 1

-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.

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BaronChocula

(3,333 posts)

9. Is Pissgoblet bragging about that on untruth antisocial?

Reply to UpInArms (Original post)

Fri Aug 1, 2025, 02:19 PM

Aug 1

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.

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UpInArms

(53,403 posts)

11. That number was

Reply to BaronChocula (Reply #9)

Fri Aug 1, 2025, 02:24 PM

Aug 1

Jiggered because there were no imports to offset.

It was meaningless

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BaronChocula

(3,333 posts)

12. I know, I just didn't want

Reply to UpInArms (Reply #11)

Fri Aug 1, 2025, 02:28 PM

Aug 1

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

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BaronChocula

(3,333 posts)

15. And now, this just in...

Reply to UpInArms (Reply #11)

Fri Aug 1, 2025, 02:30 PM

Aug 1

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

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UpInArms

(53,403 posts)

16. Kill the messenger

Reply to BaronChocula (Reply #15)

Fri Aug 1, 2025, 02:39 PM

Aug 1

to control the message

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maxsolomon

(37,356 posts)

13. Stunning! I'm flabbergasted!

Reply to UpInArms (Original post)

Fri Aug 1, 2025, 02:28 PM

Aug 1

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.

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Emile

(37,535 posts)

17. After an alert to the hosts, locking.

Reply to UpInArms (Original post)

Fri Aug 1, 2025, 03:11 PM

Aug 1

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

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

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