Mixed Signals: July Jobs Report Shows Slow Growth but Hints at Economic Recovery

The US economy added 187,000 jobs in July, the smallest increase since December 2020, but Acting Labor Secretary Julie Su sees it as a "soft landing" for the economy. The unemployment rate fell slightly to 3.5%, remaining low for the past 18 months. Su highlighted the high labor force participation rate, particularly among prime-age workers and women. However, she emphasized the need for addressing structural issues, such as affordable and reliable childcare, to support a smooth transition for women back to work in the post-Covid economy.