KEY POINTS

The new jobs report found U.S. employers added 22,000 new positions in July, well short of expectations.

Monthly average job growth in 2025 is now lowest since 2010, outside of pandemic era.

The dismal report is likely to compel the Federal Reserve to make its first interest rate cut since last December.

Last month, President Donald Trump fired the head of the federal agency that gathers monthly jobs report data and leveled accusations that the numbers were “rigged” following a dismal July reading and downward revisions to previous hiring data.

As of late Friday afternoon, the president hadn’t shared any public comment following the first Bureau of Labor Statistics report filed since the ouster of BLS commissioner Erika McEntarfer, and the numbers are even more gloomy.

U.S

See Full Page