2025-08-02
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Trump fires the labor statistics chief after a new report showed that U.S. hiring slowed in July.
paving the way for a possible rate cut.
This opens the door a little bit wider for the Fed to potentially cut in September.
But it's August 1st right now.
Mid-September feels really far away.
Plus, how does a company leave $3 billion on the table as it goes public?
And is Amazon falling behind in the artificial intelligence race?
It's Friday, August 1st.
I'm Alex Osola for The Wall Street Journal.
This is the PM edition of What's News,
the top headlines and business stories that move the world today.
A new report from the Labor Department out today showed that the U.S. added a seasonally adjusted 73,000 jobs in July,
below the gain of 100,000 jobs economists polled by The Wall Street Journal had expected to see.
It's a signal that pockets of weakness that had been marring the labor market are starting to take hold.
I'm joined now by finance editor Christina Rexrode.
Christina, what is driving jobs growth down?