Headline RoundupAugust 4th, 2023

US Economy Added 187,000 Jobs in July

Summary from AllSides News Team

The U.S. economy added 187,000 jobs in July, and the unemployment rate dropped to 3.5%, the U.S. Bureau of Labor Statistics reported Friday. 

The Details: Economists were expecting a net gain of 200,000 jobs. June’s job growth was revised from 209,000 jobs down to 185,000. The unemployment rate fell from 3.6% to 3.5% in July and remains near a 50-year low. Average hourly earnings rose 4.4% annually. The labor force participation rate remained at 62.6% for the fifth straight month, while the participation rate for the 25-to-64 age group fell to 83.4%. Job additions were seen in sectors including health care (63,000 jobs added), social services (24,000), financial activities (19,000) and hospitality (17,000). 

How the Media Covered It: Sources from left to right framed the job growth positively despite it falling short of expectations. CNN Business (Lean Left bias) declared that the U.S. economy "has returned to pre-pandemic form." Fox Business (Lean Right) said the report is "a sign the Fed's rate hikes are working."

Featured Coverage of this Story

More headline roundups

AllSides Picks

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right