Fox Business Reporter Shares ‘Disappointing’ and ‘Weak’ Jobs Report: ‘Where Are the Jobs?’

Fox Business’ Lauren Simonetti reported on the “disappointing” jobs report for July, which host Maria Bartiromo admitted was “weak” as 23,000 jobs were unexpectedly lost.

On Mornings with Maria on Friday, Bartiromo threw to Simonetti during a panel talk about the state of the economy amid the ongoing Iran war.

Simonetti reported:

Minus 23,000, no rebound for the July jobs report. Negative 23,000. Unemployment rate dropped in July to 4.1% from 4.2%, in June and the same for the expectation. The number of unemployed dropped from 7.1 million to 6.9 million. Where are the jobs, Maria? Well, manufacturing, bright spot, better than expected, created 5,000 jobs in the month but, again, a disappointing jobs report, Dow futures way up, doubling where they were before. I’m going to continue to dig through to tell you where jobs are not.

Bartiromo then cut back to her panel, admitting the report was “weak” and asking if it was “too weak.”

The Bureau of Labor Statistics reported on Friday that 23,000 non-farm payroll were lost in July, a sign of the labor market slowing after months of growth.

NBC News reported that economists surveyed by Dow Jones were expecting 83,000 added jobs on top of the 57,000 in June. Revised jobs numbers for May and June also showed slow growth in the labor market, with May being revised down 66,000 to 129,000 and June cut by 37,000 to 57,000.

Wage growth was also slow, pumping up just 0.1% from June and 3.2% from a year ago, according to the new Bureau of Labor Statistics report.

Fueling the slow growth is both inflation and higher-than-normal costs, especially at the pump. Inflation stands at around 3.5 percent, and gas prices continue to inflate amid the Iran conflict.

The average national gas price is now over $4 dollars. Gas prices had dropped to below $3 before the first strikes against Iran in February, according to AAA.

Watch above via Fox Business.

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