OAN Staff <a href="https://www.oann.com/tag/alicia-summers">Alicia Summers</a> 3:48 PM – Friday, August 2, 2024
July jobs report is out and it’s weak, sending the stock market into a free fall. 114K jobs added: far below expectations. Unemployment up to 4.3% – the highest since late 2021. Wages up 3.6%, outpacing inflation at 3%. However, prices have risen over 19% since Biden took office. Inflation down from a record 9.1% two years ago, but still above the fed’s 2% target GDP shows growth. Government spending has been a big factor in propping up the economy. Looking at all of this, a fed rate cut seems likely in September Eddy Gifford, wealth advisor with tactile, joins Alicia Summers.
<figure class="wp-block-video"><video autoplay="" controls="" loop="" poster="https://www.oann.com/wp-content/uploads/2022/04/vid-poster-image.jpg" src="https://d1cc0p6j4uj4n9.cloudfront.net/255dc0da-27b4-4c06-bb36-ee05be3e5c38/mp4/b8b1d616-f2fc-4eb1-b73c-67eebd73ccf6_Mp4_Avc_Aac_16x9_1280x720p_30Hz_3.5Mbps_qvbr.mp4" width="100%" height="auto"></video></figure>

July jobs report is out and it’s weak, sending the stock market into a free fall. 114K jobs added: far below expectations. Unemployment up to 4.3% – the highest since late 2021. Wages up 3.6%, outpacing inflation at 3%. However, prices have risen over 19% since Biden took office. Inflation down from a record 9.1% two years ago, but still above the fed’s 2% target GDP shows growth. Government spending has been a big factor in propping up the economy{ai:summary}July's jobs report hit like a wet newspaper—114,000 jobs added, yet unemployment jumped to 4.3%, the highest since 2021. The stock market took one look and decided to dive.Wages crept up, but inflation still lurks. The Fed might cut rates in September, but the economic tea leaves are murky at best. #economy

July Jobs Report Disappoints, Unemployment Rises To 4.3%

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