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U.S. unemployment rate dropped to 4.1% in July
The U.S. labor market cooled in July, with 23,000 jobs lost last month. The U.S. Bureau of Labor Statistics released its monthly data report Friday, which showed the unexpected economic downward trajectory. The unemployment rate also ticked down 4.1%. White House economic adviser Kevin Hassett told reporters the lost jobs is due to government employment decline from DOGE, winter snow causing teacher breaks being pushed to July, and the World Cup ending which meant “hospitality workers were then laid off.” AIER senior research fellow joins LiveNOW’s Austin Westfall to discuss.
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