July Nonfarm Payroll Report Leaves Fed Uncertain Ahead of September Meeting

The July nonfarm payroll report in the US has left the Federal Reserve uncertain about its next move, according to economic reporter Nick Timiraos.

The report showed a net decrease of 23,000 jobs, but a lower unemployment rate of 4.09%, the lowest since June 2025.

Timiraos believes that this ambiguous report will not significantly change the Fed's focus on inflation and that future inflation data will be crucial in determining the outcome of the September FOMC meeting.

The report also highlighted a slowdown in job growth, with private sector employment increasing by 30,000 in July, but average hourly earnings rising only 0.1% month-over-month.