
July Payrolls Report Looms as the Federal Reserve’s Final Labor Market Signal Before September
The Bureau of Labor Statistics will release the July 2026 Employment Situation report on Friday, August 7, at 8:30 a.m. ET, delivering the final major labor market reading before the Federal Reserve’s September 16 policy meeting. The report arrives after June’s payrolls figure came in at just 57,000 new jobs, the weakest monthly gain in four months, and after the Fed voted 9-3 on July 29 to hold the federal funds rate steady at 3.5% to 3.75%. The combination of softening employment data and a divided central bank has turned this week’s jobs number into one of the more consequential data releases of the year for rate-path expectations. The Bureau of Labor Statistics reported June nonfarm payrolls of 57,000, well below the 110,000-115,000 consensus and roughly in line with the 12-month average of 36,000 jobs per month April and May payrolls were revised downward by a combined 74,000 jobs, bringing April to 148,000 and May to 129,000 The June unemployment rate edged down to 4.2%, but labor force participation fell 0.3 percentage points to 61.5%, its lowest reading since March 2021 The Federal Reserve held rates at 3.5%-3.75% on July 29 in a 9-3 vote, with Chairman Warsh noting that













































