WASHINGTON, D.C. — Today, the Bureau of Labor Statistics announced that 73,000 jobs were added in July, below market expectations of just 110,000 jobs—ending the trend of beating market expectations during the prior four consecutive months.
July saw growth in health care and social assistance employment, while the federal government continues to lose jobs. The Trump administration has prioritized reducing federal headcount as it seeks to rein in unprecedented U.S. debt levels and preserve our country’s financial future.
Revisions for May and June’s reports were larger than normal. The change in total nonfarm payroll employment for May was revised down by 125,000, from +144,000 to +19,000, and the change for June was revised down by 133,000, from +147,000 to +14,000. With these revisions, employment in May and June combined is 258,000 lower than previously reported.
The overall unemployment rate increased slightly to 4.2% in July from 4.1% in June, returning to the same 4.2% in May. The unemployment rate for women increased slightly to 3.7% in July from 3.6% in June. Labor force participation fell slightly to 62.2% from 62.3%.
The drop in labor force participation overall is contrary to a slight rise in women’s labor force participation from the previous month, rising to 57.1% in July, compared to 57% in June. Meanwhile, men’s labor force participation remained steady at 68.4% for both July and June. The labor force participation rates for both men and women are still below pre-pandemic levels.
Carrie Sheffield, senior policy analyst at the Center for Economic Opportunity at Independent Women, issued the following statement:
“America’s unemployment rate has remained in a narrow range of 4.0% to 4.2% since May 2024, indicating that—contrary to histrionic press reports otherwise—the Trump administration is leading our economy with a steady hand.
“The reduction in federal employment noted by the Bureau of Labor Statistics will save U.S. taxpayers for generations to come. Fortunately, governors like Gov. Glenn Youngkin (R-Va.) are stepping in to offer support to unemployed federal workers and help them transition to private sector employment.
“Washington has undertaken positive steps to continue to liberate the labor market through smart deregulation—especially President Trump’s powerful requirement that for every one regulation promulgated, 10 are removed.
“We look forward to the continued progress toward tax and regulatory reforms through the new One Big, Beautiful Bill signed by President Trump last month that will enable job and wage growth as witnessed following the 2017 Tax Cuts and Jobs Act.
“We look forward to seeing these efforts bear fruit and continue to improve job creation for American families in the months ahead.”
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Independent Women’s Forum’s Center for Economic Opportunity (CEO) aims to educate the public about how government policies impact people’s opportunities for economic development and upward mobility.
