Industry Insights
July 2026 Jobs Report
According to the Bureau of Labor Statistics, U.S. payroll employment changed little in July, declining by 23,000 jobs, while unemployment held at 4.1%.
Health care continued to add jobs, while retail trade and other sectors experienced declines. At the same time, wage growth remained positive, with average hourly earnings up 3.2% over the past year.
Whether you're managing seasonal demand, planning future hiring, or simply staying informed, Labor Market in a Minute gives you the quick insights you need.
Watch the full video here.
🎥 Labor Market in a Minute - July 2026 Jobs Report
Video Transcript
Hi, I'm Jeff Burnett, CEO of Labor Finders and welcome to this month's Labor Market in a Minute for the month of July.
How many jobs were added to the economy?
Non-farm payroll employment decreased by 23,000 jobs for July and this is a significant decrease from the month of June. Now, as is always the case, the prior two months get revised and in this instance for the months of May and June, and it resulted in a decrease of 103,000 jobs from what was originally reported. So, this month's job data was significantly below expectations.
What is this month's unemployment rate?
The unemployment rate decreased to 4.1% from the prior month.
What is the inflation rate?
The Fed target rate for inflation is 2%. And the inflation rate for the last 12 months is 3.5% for all goods and services. And this is down from the prior month.
What is the status of job openings?
Job openings were at the same as the prior month and layoffs and hiring remain stable, signaling a resilient but cautious labor market.
What is happening with interest rates?
The Fed has three meetings remaining this year and so far they have not reduced interest rates or increased interest rates for that matter. So far this year, the Fed continues to balance inflation, interest rates, and the labor market. Given the rise in the inflation rate, this will be of primary importance for the Fed to monitor and contain.
How are tariffs and other administration policies affecting the job market?
The effects of the Middle East conflict continue to keep energy prices high and keep uncertainty in the economy.
What is the status of the GDP?
GDP has decreased from 2.1% in the first quarter to 1.5% in the second quarter. The US economy is showing modest expansion growing but not at a rapid pace considering the global geopolitical events.
What industries are adding jobs this month?
The only job growth this month was in Healthcare, which added 22,000 jobs. Local government education lost 50,000 jobs. Retail trade lost 15,000. Financial services activities lost 14,000 and all other industries had little or no change.
So that's it for this month's Labor Market in a Minute. Thank you for joining.