U.S. Unexpectedly Sheds 23,000 Jobs in July, Shifting Rate Outlook
The U.S. economy lost 23,000 jobs in July, falling well short of forecasts and pushing the probability of a Federal Reserve rate hike below 50%.
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Elena Kovač · Central Banks Desk · 14 Aug 2026 · 1 min read
The United States unexpectedly shed 23,000 jobs in July, according to labor data, missing consensus forecasts that had anticipated a gain of 80,000 positions.
In the wake of the weaker-than-expected employment report, market expectations for monetary policy shifted. The probability of the Federal Reserve implementing an interest rate hike at its upcoming policy meeting in September declined below 50%.
This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Written by
Elena Kovač
Central Banks Desk
Elena covers macroeconomic data and policy across the eurozone, translating industrial output, inflation and growth figures into what they mean for markets.
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