US Jobs Report Shows 73,000 Payroll Additions In July

The U.S. jobs report for July showed a lower-than-expected addition to nonfarm payrolls at 73,000.

As per data from the U.S. Bureau of Labor Statistics (BLS), the unemployment rate stood at 4.2% in July.

According to a report by CNBC, Dow Jones estimates for nonfarm payrolls in July were 100,000, and BLS data shows the job growth during the month was slower than expected.

The nonfarm payroll additions of 73,000 in July were still higher than the 14,000 in June. Data from the Department of Labor shows that there were significant downward revisions to the May and June totals.

According to the BLS, June nonfarm payrolls were revised downward by 133,000 and May by 125,000. The original reports showed an addition of 147,000 and 144,000, respectively.

The BLS jobs report also revealed that while health care and social assistance continued to trend up in payroll additions, the federal government jobs continued to decline.

The unemployment rate of 4.2% in July was slightly higher than in June, when it stood at 4.1%.

People who currently want a job but don’t have one stood at 6.18 million in July, up from 6.03 million in June and 5.99 million in May.

Among the unemployed, the number of new entrants increased by 275,000 in July to 985,000. New entrants are unemployed people who are looking for their first job.

Meanwhile, U.S. equities declined sharply in Friday’s pre-market trading session after President Donald Trump unleashed tariffs globally in the range of 10% and 41%.

At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was down 0.86%, while the Invesco QQQ Trust (QQQ) fell 1.07%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.

Also See: Dow Futures Decline As Trump Unleashes Tariffs Globally: AAPL, AMZN, COIN, RDDT, CVX, XOM Among Stocks To Watch

For updates and corrections, email newsroom[at]stocktwits[dot]com.