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Associated Press: Pressures from the War with Iran Affect the US Labor Market

IranGate
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Associated Press: Pressures from the War with Iran Affect the US Labor Market

Associated Press: Pressures from the war with Iran have affected the U.S. job market.

The Associated Press reported that American employers have unexpectedly cut 23,000 jobs due to pressures from the war with Iran.

According to a revision of U.S. Labor Department statistics, the number of jobs created in May and June was also 103,000 less than previous estimates.

Despite the unemployment rate dropping to 4.1%, this decrease is mainly due to 264,000 people leaving the workforce, and the labor force participation rate has reached its lowest level since February 2021. The most significant job declines have been recorded in the education, restaurant, and retail sectors.

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