Surprise US job losses shift the rate debate to October
Beneath the headline, private payrolls rose 30,000, matching June, while governments cut 53,000, led by a 49,600 fall in local-government education that economists tied to seasonal-adjustment quirks around the school calendar.
Leisure and hospitality lost 40,000 for a second straight month, which analysts linked to the fading boost from the FIFA World Cup.
Retail shed about 19,000 jobs and financial activities 14,000, while health care and construction each added 22,000.
Average hourly earnings rose two cents, slowing annual wage growth to 3.2 percent from 3.4 percent, the weakest since May 2021.
Gold, a beneficiary of the softer rate outlook and weaker dollar, rose 2.55 percent Friday to about US$4,347 an ounce and steadied near US$4,345 in early Monday trading after gaining more than 7 percent last week, its best week since January, according to Bloomberg data.
