US adds just 73,000 jobs in July, sparks recession fears
The US economy added just 73,000 jobs in July, falling short of Bloomberg's forecast of 109,000. “To me...the jobs report is what entering a recession looks like,” said Josh Bivens, chief economist at the Economic Policy Institute. Notably, the unemployment rate in US also rose to 4.2% from 4.1% in June, according to the Bureau of Labor Statistics.