Wages Grow 3.2%. But Is That Enough? | S3 E157 | 08-07-26

Markets with Megan: A Quick Financial Markets Update · Aug 7, 2026 · 4m · transcript

The July jobs report landed with a surprise this morning, and it wasn't the good kind. Economists expected the U.S. economy to add 80,000 jobs. Instead, it lost 23,000, and the prior two months were revised lower. Megan breaks down what happened underneath that headline number and what it means for the Fed's next move.

Here's the part that confuses a lot of people: the unemployment rate actually fell to 4.1%, its lowest level in about a year, even as jobs disappeared. That's not necessarily good news. Megan explains why a shrinking labor force, not new hiring, is driving that number, and why…