The US economy has taken a hit with job losses in July. According to the Bureau of Labor Statistics, 23,000 jobs were lost, ending a four-month streak of job growth. This comes after modest gains in June, with only 20,000 jobs added.

The labor force participation rate has also fallen, indicating a slowing economy. 1%. These numbers paint a concerning picture of the economy, with inflation remaining elevated.

Further details on the employment report and its implications are available from the Bureau of Labor Statistics. For more information on the current state of the economy and job market, readers can refer to the original report.