by Joseph Weber
The U.S. economy lost 23,000 in July, the federal government reported Friday.
Forecasters expected job gains for last month to be as high as 83,000, according to CNBC.
The unemployment rate fell slightly to 4.1% last month, compared to 4.2% in June, according to the Bureau of Labor Statistics report Friday.
E.J. Antoni, an economist, said since January 2024, private sector jobs in America have gone up by 877,000 while government jobs declined by 287,000.
He added that total job growth during this time span has been only 590,000 jobs, all from the private sector.
Antoni also said employment for college graduates has remained “flat” since spring 2025.
“Record-high student loan debt plus a lack of employment is not a good combo, certainly not at today’s interest rates,” he explained.
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Joseph Weber is a reporter for Just the News. Zachery Schmidt is the digital editor of The Star News Network and contributed to this story.
