July jobs steady, momentum may slow towards end-2025
The unemployment rate stayed at 3.0% (Jun: 3.0%) for the fourth straight month, supported by sustained hiring in the services sector
- Unemployment numbers, however, rebounded (0.6% MoM; Jun: -0.7%) for the first time in 13 months.
- In absolute terms, the number of unemployed expanded to 521.6k (Jun: 518.7k), ending 12 straight month of decline.
- The actively unemployed expanded to 416.2k (Jun: 414.4k), a two-month high, ending the 10 straight month of decline.
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