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2025-08-01 20:42:52
[Agency: Employment has increased by an average of only 35,000 people in the past three months, and the labor participation rate is declining] Institutional analysis pointed out that the average hourly wage did not convey much information. As expected, it was 0.3%, a slight increase from 0.2% in June. Over the past year, income has grown by 3.9%, faster than inflation, which means that workers' purchasing power is rising. Taking into account the sharp downward revisions in the past two months, employment has increased by an average of only 35,000 people in the past three months. This is undoubtedly the weakest hiring pace since the outbreak of the pandemic in 2020. It is important to note that the labor participation rate is declining. The number of labor forces has shrunk for the second consecutive month. This is not a good sign. The fact that the unemployment rate rose in July despite many people leaving the job market is even more worrying. In addition, the employment indicator of the household survey showed a contraction in July.
