A key measure of the US labour market has fallen to its lowest level in four years, intensifying concerns that the economy may be losing momentum despite a relatively low unemployment rate. The latest figures have also fuelled fresh debate over President Donald Trump's economic record after a disappointing June jobs report pointed to slowing hiring across several major sectors.
Former Treasury official and economic analyst Steve Rattner argued that the decline effectively erased the labour market's post-pandemic recovery. Responding to last week's employment report, he noted that labour force participation had slipped to 61.5%, its lowest level since 2021.
