The July Jobs report by the Bureau of Labor Statistics, released on Friday, is raising concerns among economists, who warn that the latest data and sharp downward revisions point to a labor market that is losing momentum and potentially edging toward a recession.
What Happened: On Sunday, in a post on X, former Treasury Secretary Lawrence Summers said that the U.S. economy was “closer to stall speed than we thought,” citing the bleak figures published in the report.
