August 7, 2026
United States:
US Employers Unexpectedly Shed Jobs; Unemployment Rate Falls
US employers unexpectedly cut jobs in July and hiring in the prior two months was revised lower, suggesting the labor market is weaker than previously thought after surprising strength earlier this year.
Nonfarm payrolls decreased 23,000 last month following a combined 103,000 downward revision to the May and June figures, Bureau of Labor Statistics data showed Friday. The unemployment rate fell to 4.1% as labor force participation continued to slide, and wage growth slowed.
Europe:
German Industrial Production Rises for Third Month on Cars
German industrial production grew for a third month, another sign that Europe’s largest economy is resisting the drag from the Iran war.
Output increased 0.2% from a month earlier in June, the statistics office said Friday.
Asia:
Japan’s Households Continue to Cut Spending Despite Wage Gains
Japan’s household spending unexpectedly fell for a seventh month even as real wages continued to increase, reflecting the impact of persistent inflation on consumer sentiment.
Outlays by households adjusted for inflation dropped 3.3% in June from a year earlier, the Ministry of Internal Affairs and Communications reported Friday.
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