Economics’ Jonathan Ernest warns July job losses may signal labor-market weakness

U.S. employers cut 23,000 jobs in July

Spectrum News: Jonathan Ernest, assistant professor of economics at Weatherhead School of Management, said July’s job losses were unexpected, as economists had anticipated roughly 80,000 new jobs. He warned that falling unemployment may mask labor-market weakness, with signs the economy could be heading toward “stagflation”—persistent inflation alongside increasing difficulty finding work.