Job gains for May and June were revised down by a whopping 258,000, portraying a much weaker labor market than previously believed.
Nearly 2 million Americans have been out of work for six months or longer, the Labor Department reported in May. Companies are doing less hiring due to uncertainty about President Donald Trump’s tariffs. Artificial intelligence is taking jobs from new graduates. Recession fears loom.
https://www.usatoday.com/story/money/2025/08/01/job-market-unemployment-layoffs-buyouts/85472940007/