FX.co ★ US Economy Sheds 23K Jobs in July

The US economy unexpectedly lost 23,000 jobs in July 2026, following a downwardly revised gain of 20,000 in June and defying expectations for an 80,000 increase. Employment estimates for May and June were also revised lower, leaving total employment 103,000 below previously reported levels.

In July, employment in local government education fell sharply, declining by 50,000 jobs. Retail trade employment decreased by 19,000, driven primarily by losses at warehouse clubs, supercenters, and other general merchandise retailers (-21,000), as well as at gasoline stations and fuel dealers (-5,000). Employment in financial activities also declined, down by 14,000 jobs.

Employment showed little change in several major sectors, including mining, quarrying, and oil and gas extraction; construction; wholesale trade; transportation and warehousing; information; professional and business services; social assistance; leisure and hospitality; and other services.

In contrast, the health care sector continued to expand, adding 22,000 jobs in July.