U.S. Payrolls Turned Negative in July After Months of Downward Revisions

BLS data show U.S. payrolls have been sequentially revised lower across 2026. May's gain was cut by 66,000 to +63,000; June was trimmed by 37,000; July turned negative at -23,000. The figures come from the July 2026 Employment Situation Summary. In January, payrolls had grown 130,000. The trajectory points to a labor market that shifted from softening to contraction.