Likely added nearly 100,000 jobs in July, but market is still tough for young and unemployed

The U.S. job market may look steady in headline numbers, but the AP reports mixed signals beneath the surface. Hiring has been solid without matching a post-2020 boom, while layoffs remain unusually rare as companies avoid risking staffing. Weekly unemployment benefit filings fell to the lowest level in more than 50 years, and the June jobless rate was 4.2%, expected to hold in July. Yet jobseekers are struggling: in May, 27.5% of unemployed had been out of work for six months—the highest in four and a half years. Economists expect nearly 98,000 jobs added in July, following 57,000 in June.