U.S. Jobs Fell in July, Yet Unemployment Rate Dropped

The U.S. economy lost 23,000 jobs in July 2026, the WSJ reported August 8 — surprising forecasters who expected gains. Yet the unemployment rate fell. Why the contradiction? The two numbers come from separate surveys that measure different things and can disagree when people enter or leave the workforce. The dollar dropped to a seven-week low; gold rose to a seven-week high.