The July jobs report landed with a surprise this morning, and it wasn't the good kind. Economists expected the U.S. economy to add 80,000 jobs. Instead, it lost 23,000, and the prior two months were revised lower. Megan breaks down what happened underneath that headline number and what it means for the Fed's next move. Here's the part that confuses a lot of people: the unemployment rate actually fell to 4.1%, its lowest level in about a year, even as jobs disappeared. That's not necessarily good news. Megan explains why a shrinking labor force, not new hiring, is driving that number, and why real wages have now been negative for five straight months even as consumers keep spending. In this episode, Megan covers: Why the economy lost 23,000 jobs when 80,000 were expectedHow the unemployment rate fell to 4.1% even as jobs declinedWhy the labor force participation rate dropped to its lowest level since 1976Where jobs are still growing, including construction and manufacturing tied to the AI buildoutWhy real wages have been negative for five consecutive monthsWhat this report means for the Fed heading into its September decisionIf you're trying to make sense of a jobs report that seems to contradict itself, you're not alone. Give this one a watch, and subscribe if you want these numbers explained in plain English every week. For a history of all Markets with Megan episodes, visit: https://marketswithmegan.FM #JobsReport #LaborMarket #Unemployment #FederalReserve #WageGrowth #EconomicData #MarketsWithMegan #Investing #FedRateDecision #JulyJobsReport https://youtu.be/gLeAS1-ZJrQ Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the c...
