Was This Summer's Healthy Job Market A Mirage?

Forbes

a day ago

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After two months of seemingly healthy growth in the job market, the American workforce grew slower than expected in July.
Only 73,000 nonfarm jobs were created last month, a dismal showing compared to the 115,000 analysts expected, while unemployment rose slightly to 4.2%. But that's not all: The Labor Department and the Bureau of Labor Statistics—the government bodies charged with producing the monthly jobs report—revised their estimates for May and June employment down by 258,000 jobs in total.
And it's not just a lack of new jobs hurting the U.S. labor market. Job cuts this year have already surpassed all of 2024, according to career services firm Challenger, Gray & Christmas. Private and public employers have eliminated 806,000 jobs in the first six months of the year, largely driven by DOGE cuts to federal agencies and grants, concerns about President Donald Trump's tariffs and yes, AI.
The disappointing labor report sent waves through Wall Street and the White House. Trump went as far as firing BLS commissioner Erika McEntarfer, a Biden-era appointee, in a move that has been criticized by many, including former Trump-era BLS chief William Beach.
So what does all of this mean for those still looking for a new job? It's important to recognize the industries that are still adding jobs, like health care and social assistance. But for those working outside those fields, senior contributor Caroline Castrillon recommends seeking out contract work while you broaden your skills and network for full-time opportunities.
Happy reading, and hope you have a lovely week!
WORK SMARTER
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DEEP DIVE: Should You Scrub Your Social Media Before Beginning Your Job Hunt?
Between the Trump Administration declaring private accounts a red flag for foreign student visas and prospective employers using AI to seek out fake applicants, the old rules are becoming obsolete. Forbes' Fiona Riley and I spoke to university counselors, employment lawyers and startup founders to figure out what job seekers should do.
For years, the advice to graduates and job seekers when it came to their social media presence was straightforward: Delete your personal accounts or at least make them private, and work on building a professional LinkedIn network.
But following that advice today could hurt your job prospects. The State Department now requires international students to make their accounts public to allow a review of their 'entire online presence.' Not only is content or activity that is 'hostile' to the U.S. government or culture worthy of a red flag, but even the absence of social media accounts could be held up against a visa applicant, as it could be viewed as a possible effort to evade scrutiny of their true views.
'You're damned if you do post, damned if you don't,' one international student who requested anonymity because she fears undermining her own immigration status tells Forbes.
U.S.-born students and job seekers have reason to worry, too, as a lack of a social media presence can also hurt during verification processes.
Employers are increasingly dealing with an influx of fake candidates, aided by the rise of AI. The technology is now so advanced that a novice AI user can create a fake applicant profile—social media pages and all—in just 70 minutes. So it makes sense that many employers are turning to pre-screening tools that use publicly available information to verify an applicant's authenticity.
So is the new advice to post or not to post? To scrub your page or to leave it as is? It's a tough balancing act, especially when your online professional presence—like your LinkedIn profile—and personal brand can be more important than your résumé.
Read the full piece for more tips here.
TOUCH BASE
News from the world of work.
Boeing defense workers are on strike for the first time since 1996 after the union rejected the company's latest contract offer. The 3,200 unionized employees walked out of Boeing's factories in St. Louis and St. Charles, Missouri and Mascoutah, Illinois, where they assemble crucial missile systems and aircrafts, including the F-15 and F/A-18.
Behind athletes' multimillion dollar paydays are the agents negotiating player contracts, brand partnerships and additional deals—all for a hefty cut. Topping Forbes' ranking of the Most Powerful Sports Agents in North America for 2025 is Scott Boras, who negotiated Juan Soto's contract with the New York Mets. Boras is set to earn $244 million in player commissions on nearly $5 billion in active player contracts.
Meta has reached a new high in its bid to recruit top talent for its AI lab. According to Wired, one offer to an employee at Thinking Machines Lab, the startup founded by former OpenAI CEO Mira Murati, included a billion-dollar compensation package spread over a multi-year plan. Meta, however, has denied the staggering number.
A new AP poll found that fewer Americans perceive racial discrimination against Asian and Black Americans than in 2021. The poll also found that more Americans are skeptical of DEI policies and programs, which have been targeted by the Trump Administration.
NUMBER TO NOTE
154,000
VIDEO
https://www.youtube.com/watch?v=DY0Y5M1NTG8
Venture Capitalist's Advice To Young Workers: Slow Down
QUIZ
As President Trump considers a replacement for Fed Chair Jerome Powell, whose term is not up until May 2026, which current cabinet member is no longer on the shortlist?
A. Vice President JD Vance
B. Secretary of Commerce Howard Lutnick
C. Treasury Secretary Scott Bessent
D. Secretary of Transportation Sean Duffy
Check if you got it right here.