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2025-08-02 00:01:15
The weak US job market exacerbates job search challenges, with a rise in the proportion of long-term unemployed. The July US jobs report showed that the proportion of unemployed people who had been out of work for more than six months rose to 25%, up from 20% in May. The number of long-term unemployed increased from 1.5 million to 1.8 million. The 73,000 new jobs added fell short of expectations, and coupled with downward revisions of 258,000 jobs for the previous two months, the job search environment has become even more challenging, raising market expectations for an easing policy by the Federal Reserve. (Dow Jones)
