The state of the US labor market has deteriorated in July, with the unemployment rate being raised to 4.2%, according to official figures published today, which show a sharp decline in the number of jobs created in recent months.

The US economy created 73,000 jobs in July, less than analysts expected, according to a monthly report by the Ministry of Labor.

Mostly, the creation of jobs in May and June was revised downwards. Customized data (19,000 in May and 14,000 in June) are therefore the lowest of the Covid-19 pandemic.

The revisions are “much higher than normal levels”, as noted. These are 258,000 new jobs lost in statistics in the last two months.

The creation of jobs focuses on a reduced number of sectors (health and social services), while jobs continue to be lost at the federal state level, in agreement with the wishes of the Republican Government.

The unemployment rate was 4.1% last month.

“This is an exhibition that changes the data. The labor market is deteriorating rapidly, “the Navy Federal Credit Union Bank, Heather Long, reacted in a report.

Overall, the US “created an average of 35,000 jobs in the last three months,” she said, adding that the Federal Bank would “have to” seriously consider interest rates in September “to support the economy.