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Job Growth Slows, Wages Lag Behind | Annapolis News
American employers slashed 23,000 jobs last month, reversing earlier gains and signaling a major slowdown in hiring and wage growth. July’s dismal report missed forecasts by over 100,000, revealing a job market where opportunities are shrinking and workers have less leverage. Wage increases now lag behind inflation, squeezing household budgets and eroding worker bargaining power. Job losses hit education, retail, and manufacturing, while long-term unemployment is surging. Though the official unemployment rate dipped slightly, experts warn this may reflect people dropping out of the labor…
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