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US employers added 187,000 jobs in July, the lowest number since COVID peaked in 2020, the Labor Department said Friday.

The latest figures shown in the Bureau of Labor Statistics’ July report, released Friday, are a key indicator that the red-hot labor market is officially cooling after nearly 18 months of interest rate hikes — part of the Federal Reserve’s aggressive tightening cycle to bring inflation back down to its pre-pandemic level of 2%.

Job openings last month mark a slight decrease from the 209,000 jobs added to the US economy in June, and a sharper drop from the robust 339,000 jobs that were gained in May.

The figures mark the slowest increase since December 2020, though the US is currently enjoying a 30-month streak of monthly job gains.

The government agency’s report also showed that unemployment was little changed month-over-month, to 3.5% from 3.6%.

Employment in healthcare added 63,000 jobs last month, increasing the most.

Jobs in construction, financial activities and wholesale trade also trended positively, the report showed.

Fed officials have warned that strong hiring can often fuel inflation if companies feel compelled to raise pay to attract and keep workers.

Thus, a slowdown in job growth and pay raises could help the Fed reach its 2% inflation target.

The Fed last week hiked interest rates to a 22-year high — to a range between 5.25% and 5.5% — and Powell suggested that further lifts could be imminent if officials though it were necessary to combat stubbornly-high inflation.

Friday’s report came in under what economists had expected.

They had forecast 200,000 new jobs in June with the unemployment rate holding steady at 3.6%, according to The Wall Street Journal.

Experts have long been forecasting that the jobs market would cool by the fourth quarter of the year, though bankers are shrugging off recession concerns as US consumers have reportedly been keeping up their loan payments.

JPMorgan chief Jamie Dimon said in an earnings conference call last month: “Even if we go into recession, theyre going with rather good condition, with low borrowings and good house price value still.”

Bank of America CFO Alastair Borthwick also said that “the consumers actually in pretty good shape,” citing elevated deposits and strong asset quality.

Powell has also said that Fed staff is no longer forecasting a recession.

We do have a shot for inflation to return to target without high levels of job losses, the Fed Chairman said.

However, when ratings agency Fitch shockingly downgraded the US’ top-tier sovereign credit rating from AAA to AA+ earlier this week, it pointed to a looming recession by the end of the year as reason for doing so.

The agency noted that it expects the US economy to slip into a mild recession from the fourth quarter of this year into the first quarter of 2024.

Tighter credit conditions, weakening business investment and a slowdown in consumption will push the US economy into a mild recession, Fitch said in the statement.

Fitch’s decision was bashed among top economists, with the likes of Former Treasury Secretary Larry Summers and CUNY economics professor Paul Krugman both calling the move “bizarre.”

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2025 World Series: Live updates and analysis from Game 5

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2025 World Series: Live updates and analysis from Game 5

All the Toronto Blue Jays had to do after losing an 18-inning epic in Game 3 of the 2025 World Series was bounce back quickly — and beat starting pitcher/DH Shohei Ohtani and the Los Angeles Dodgers in Game 4.

Well, they did just that — and the Fall Classic is tied at 2-2. With the series sure to head back to Toronto, what will happen in the final game in L.A.? Game 5’s winner will be one victory from a ring; the loser will be one loss from heartbreak.

Follow all the action — from live analysis during the game to our postgame takeaways — right here.

Key links: World Series schedule, results

Live analysis

Gamecast: Follow the action pitch-by-pitch here

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Sources: Twins pick Shelton to be next manager

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Sources: Twins pick Shelton to be next manager

The Minnesota Twins are hiring former Pittsburgh Pirates manager Derek Shelton to be the team’s new manager, sources confirmed to ESPN’s Jeff Passan on Wednesday.

Shelton, who was fired on May 8 as the Pirates quickly slipped into last place in the National League Central, will replace Rocco Baldelli, who was fired by Minnesota on Sept. 29.

The 55-year-old Shelton was the bench coach for the Twins in 2018 and 2019 under two different managers, Paul Molitor and Baldelli.

New York Yankees hitting coach James Rowson, who held that role for the Twins under both Molitor and Baldelli before leaving to become bench coach of the Miami Marlins in 2020, was also one of the finalists. Former Seattle Mariners manager Scott Servais and current Chicago Cubs bench coach Ryan Flaherty reportedly were in the mix, too.

The Twins are one of nine MLB teams who have changed managers this year.

Shelton was named manager of the Pirates in November 2019 as part of a franchise-wide reset by owner Bob Nutting. It was his first major league managing job after serving as a coach in various capacities in Tampa Bay, Toronto and Minnesota, and he went 306-440 in his five-plus seasons with Pittsburgh.

Pittsburgh won less than 40% of its games in Shelton’s first three seasons before taking a step forward in 2023 when it won 76 games. Paul Skenes‘ arrival in 2024 gave the franchise another jolt, and the Pirates were in playoff contention until an August swoon. In 2025, the Pirates’ offense under Shelton languished near the bottom of the NL.

The Twins, who were expected to contend for the AL Central title this season, faltered in June and became active at the trade deadline, sending away 10 players while cutting $26 million from the payroll. The team went 23-43 after the All-Star break to finish fourth in the division with a 70-92 mark.

It was the fourth-worst record in the major leagues and their worst mark since 2016.

Attendance swooned at Target Field this season, with the Twins finishing with an 81-home game total of a little more than 1.7 million tickets sold, their lowest number in a non-pandemic season since 2000, when they played at the Metrodome and finished 69-93.

Fans mostly have directed their disdain toward ownership, with deep frustration over cost cutting that came after the 2023 breakthrough Baldelli led with the end of a record 18-game postseason losing streak and the club’s first win of a playoff series in 21 years.

Executive chair Joe Pohlad and his family members put the franchise up for sale in 2024, but decided in August to keep control and bring on two new investment groups for an infusion of cash to help pay down debt.

The New York Post first reported news on Shelton’s hiring by the Twins.

The Associated Press contributed to this report.

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Jays’ Springer feeling better, won’t start Game 5

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Jays' Springer feeling better, won't start Game 5

LOS ANGELES — Blue Jays designated hitter George Springer won’t start Game 5 of the World Series against the Los Angeles Dodgers on Wednesday, but Toronto manager John Schneider indicated Springer could be available off the bench.

Springer, who also missed Game 4 after leaving Game 3 early with right side discomfort, did some hitting in the batting cage and some running Wednesday.

“George is feeling better,” Schneider said Wednesday afternoon. “I think better than he expected to feel, better than we expected him to feel, which is saying a lot.”

Bo Bichette will serve as the team’s DH in place of Springer in Game 5 while Isiah Kiner-Falefa will start at second base.

The 36-year-old Springer left Monday’s contest after taking an awkward swing in the seventh inning of the Dodgers’ eventual 18-inning victory. He is 3-for-11 with two runs scored in the World Series, which is tied 2-2.

He has been a key member of the Blue Jays’ postseason run but is likely to watch at least one more game before the Series takes a day off Thursday. With the extra time to heal, it means Springer could be ready for Friday’s Game 6 in Toronto.

“He’s had an unbelievable year, and I think that he has done a phenomenal job of kind of setting the tone for us, not just at the plate but in the clubhouse and keeping tabs on guys,” Schneider said. “It’s been fun to watch him. It’s been really fun after a tough year last year for him and us.”

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