The US labour market slowed sharply over the past three months, according to data released on Friday that intensified pressure on the Federal Reserve to bow to Donald Trump’s calls to slash borrowing costs.
The world’s biggest economy added just 73,000 jobs in July, while hiring figures for May and June were lowered by a combined 258,000, in an unusually large revision by the Bureau of Labor Statistics.
The 106,000 posts added from May to July marked a plunge from the 380,000 added in the previous three months. Friday’s report came just days after GDP data suggested that the economy is losing momentum, with consumer spending cooling in the first half of 2025.
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