U.S. Employment Falls 1.728 Million in 6 Months as Labor Force Shrinks 2.137 Million
Updated
Updated · TU News · Jul 2
U.S. Employment Falls 1.728 Million in 6 Months as Labor Force Shrinks 2.137 Million
1 articles · Updated · TU News · Jul 2
Summary
1.728 million fewer Americans were employed over the past six months, while the labor force contracted by an even larger 2.137 million.
0.2 percentage point lower unemployment did not reflect stronger hiring; the rate fell because people left the labor force faster than employment declined.
0.7 percentage point drop in the employment-population ratio pointed to broader labor-market weakening beneath the headline unemployment figure.
Basmajian said the labor data follows his recent review of weakening leading indicators, even as durable goods manufacturing has been supported by AI-driven business equipment investment.