CNBC's Rick Santelli joins 'Squawk Box' to break down the July jobs report. The U.S. added just 73,000 jobs in July and numbers for prior months were revised much lower.
Breakdown
- Non-farm payrolls increased by 73,000, the lowest monthly gain this year. 7s
- A two-month revision reduced previous job gains by 258,000. 28s
- The unemployment rate rose to 4.2%, the highest since October 2021. 1m 6s
- Average hourly earnings increased by 0.3% month-over-month and 3.9% year-over-year. 35s
- Market interest rates fell in response to the jobs report and revisions. 1m 52s