The economy unexpectedly lost 23,000 jobs in July, signaling a slowdown that could complicate the Federal Reserve's next move on interest rates in September. The Trump administration downplayed the jobs report, blaming it on federal downsizing and layoffs in World Cup hospitality. CBS News business producer Emily Pandise has more.
Us News
Trump faces disappointing July jobs report
The economy unexpectedly lost 23,000 jobs in July, signaling a slowdown that could complicate the Federal Reserve's next move on interest rates in September. The Trump administration downplayed the jobs report, blaming it on federal downsizing and layoffs in World Cup hospitality. CBS News business
Published August 7, 2026, 10:51 PM
Updated August 7, 2026, 11:02 PM4.3K
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