E.J. Antoni: U.S. nonfarm payrolls fall $23,000 in July as employment slips

E.J. Antoni: U.S. nonfarm payrolls fall $23,000 in July as employment slips
U.S. payrolls drop, labor force falls

E.J. Antoni reports that the U.S. jobs data for July showed a decrease in nonfarm payrolls by $23,000, with government employment down $53,000.

Antoni adds that revisions for the previous two months resulted in over $100,000 fewer jobs than initially reported, while the employment level dropped by $87,000 as more individuals exited the labor force.

Earlier this month, E.J. Antoni noted that the U.S. trade deficit fell 5.6% to $73.3 billion as both exports and imports declined. He also reported that consumer sentiment rose sharply after gas prices eased. These developments provided a mixed backdrop for recent labor market data.

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