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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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Trump says he will cancel all Biden executive orders ‘signed with autopen’

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Trump says he will cancel all Biden executive orders 'signed with autopen'

Donald Trump has said he will cancel all executive orders that he claims were signed with an autopen by his predecessor Joe Biden.

The US president alleged Mr Biden was “not involved” in signing the orders and claimed “the radical left lunatics circling Biden around the beautiful Resolute Desk in the Oval Office took the presidency away from him”. He did not provide any evidence for his claims.

An autopen is a device which reproduces a person’s signature, allowing them to repeatedly sign documents without having to do so by hand each time.

In a post on his Truth Social platform, he said: “Any document signed by Sleepy Joe Biden with the Autopen, which was approximately 92% of them, is hereby terminated, and of no further force or effect.

“The Autopen is not allowed to be used if approval is not specifically given by the President of the United States.”

He added: “I am hereby cancelling all Executive Orders, and anything else that was not directly signed by Crooked Joe Biden, because the people who operated the Autopen did so illegally.

“Joe Biden was not involved in the Autopen process and, if he says he was, he will be brought up on charges of perjury.”

Read more from Sky News:
Trump: Land ops against Venezuela starting ‘very soon’
US to review immigration from 19 countries after shooting

Mr Trump has repeatedly claimed Mr Biden was not mentally capable by the end of his term and his staff made decisions on his behalf, using an autopen to sign them off without his knowledge.

Mr Trump has not provided any evidence for his claims, while Mr Biden and his former aides have denied they made decisions on his behalf.

In June, Mr Biden said: “Let me be clear: I made the decisions during my presidency.

“I made the decisions about the pardons, executive orders, legislation, and proclamations. Any suggestion that I didn’t is ridiculous and false.”

Mr Trump has also used an autopen, but claimed he only used it “for very unimportant papers”.

Pic: Reuters
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Pic: Reuters

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Trump trolls Biden with new ‘presidential portrait’

Earlier this year, Mr Trump replaced a portrait of Mr Biden in the Oval Office with a picture of an autopen signing the former president’s name.

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Sports

Kiffin to make ‘hard decision’ on future Saturday

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Kiffin to make 'hard decision' on future Saturday

STARKVILLE, Miss. — Lane Kiffin said he’ll decide Saturday whether he will return as Ole Miss‘ coach in 2026 or take another job, presumably at LSU, which is trying to poach him from its SEC rival with a lucrative contract offer that will make him one of the highest-paid coaches in college football.

Kiffin, while speaking to reporters after the No. 7 Rebels’ 38-19 victory at Mississippi State in Friday’s Egg Bowl at Davis Wade Stadium, would only say that he’ll have to make a decision one way or the other, after Ole Miss athletics director Keith Carter and chancellor Glenn Boyce said they needed an answer by Saturday.

“I feel like I’ve got to,” Kiffin said.

When Kiffin was asked if he had made up his mind about where he’ll be coaching next season, he said, “Yeah, I haven’t. Maybe that surprises you. But, you know, I’ve got to do some praying and figure this thing out.”

Kiffin said he planned to attend his son’s high school playoff game in Tupelo, Mississippi, on Friday night. Knox Kiffin is Oxford High’s starting quarterback.

“Tonight, I’m going to go be a dad and watch a more important game to me,” Kiffin said.

Kiffin wasn’t sure what time he would make a decision Saturday.

“There’s a lot [that goes] into it,” Kiffin said. “It’s a hard decision. You guys have them all the time. You’ve got to make decisions about jobs you take and where you move, and we get paid a lot so I understand we’re under a lot of spotlight and scrutiny.”

Kiffin said he regretted not being able to speak to his father, Monte Kiffin, while trying to make one of the most important decisions of his career. The longtime NFL defensive coordinator died in July 2024. He was 84.

Kiffin, 50, has sought the advice of former Alabama coach Nick Saban and Las Vegas Raiders coach Pete Carroll, his former boss at USC, the past few weeks.

ESPN reported earlier Friday that Florida, which was also courting Kiffin, is now focused on other candidates in its search because the Gators believe he’s more interested in other opportunities.

Carter and Boyce met with Kiffin a week ago in Oxford, Mississippi, and the sides came to an understanding that Kiffin would make up his mind the day after the Egg Bowl.

If the Egg Bowl was Kiffin’s last game as Ole Miss’ coach, it was a fitting end to one of the most successful tenures in school history.

As speculation about Kiffin’s future continued to swirl over the past two weeks, the Rebels rolled past their rivals for their fifth win in the past six meetings in the heated series. The Rebels had 545 yards of offense, as quarterback Trinidad Chambliss passed for 359 yards with four touchdowns.

The Rebels (11-1, 7-1 SEC) all but secured a spot in the 12-team College Football Playoff. They’ll have to wait another day to find out whether they’ll play in next week’s SEC championship game in Atlanta.

No. 3 Texas A&M would have to fall at No. 16 Texas on Friday night (7:30 p.m. ET, ABC) and No. 10 Alabama would have to lose at Auburn in Saturday’s Iron Bowl (7:30 p.m. ET/ABC) for the Rebels to clinch a spot in the SEC championship game.

And, of course, Ole Miss fans will be waiting Saturday to find out which coaches will be on the sideline for the CFP, which might begin with a first-round game at home on Dec. 19 or 20.

If Kiffin decides to leave for LSU, former New York Giants coach Joe Judge would likely serve as the Rebels’ interim coach in the CFP, sources told ESPN.

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Why Airbus plane’s sudden drop in altitude led to thousands needing software updates

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Why Airbus plane's sudden drop in altitude led to thousands needing software updates

Thousands of planes from Airbus’s widely-used A320 family have been ordered for repairs following a software issue.

The aircraft manufacturer is carrying out software updates for 6,000 of its jets – around half the global fleet – threatening travel disruption for airline passengers.

The UK’s Civil Aviation Authority said it expects some disruptions to airlines and flights, with easyJet and Wizz Air saying they will take some planes briefly out of service to do the repairs.

But why have airlines been told to carry out a software update for the planes, and how is solar radiation involved?

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Airbus software works to take ‘days’

What triggered the repair order?

It is understood the incident that triggered the unexpected repair order involved a JetBlue flight from Cancun, Mexico, to Newark, New Jersey, on 30 October.

The flight suffered a control problem and a sudden uncommanded drop in altitude, basically a sharp loss of height, which left 15 passengers with injuries and forced the flight to make an emergency landing in Tampa, Florida.

After investigating the incident, Airbus said “intense solar radiation” may corrupt data critical to the functioning of flight controls.

The issue is known as bit flip, where solar radiation can strike a computer’s memory, changing its data from a 0 to a 1 and vice versa – a risk which also affects spacecraft.

Read more: Which airlines are affected by Airbus disruption?

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Ex-pilot tells Sky News how long it could take to solve Airbus software issue

‘Very concerning’ – but ‘very low likelihood’ of such an event

The situation was “very concerning”, travel expert Simon Calder told Sky News presenter Gillian Joseph.

However, he said there was a “very low likelihood” of such an event happening, adding: “In aviation, nothing is taken for granted.”

He said: “Aviation remains extraordinarily safe. And that is partly because as soon as a possible threat is identified, then action is taken immediately.”

What is the fix?

The fix involves reverting to earlier software, but must be carried out before the planes can fly again, according to a bulletin to airlines.

Airbus said for most of the affected aircraft, the required update would only take between two to three hours.

However, some jets may need to have their hardware replaced to adopt the required software – a process which would take a longer time.

The Airbus bulletin traced the problem to a flight system called ELAC (Elevator and Aileron Computer), which sends commands from the pilot’s side-stick to elevators at the rear of the plane, Reuters reported.

Those elevators control the aircraft’s pitch or nose angle, determining which way it is flying.

The A320 was first launched in 1984 and is the main competitor to the Boeing 737 MAX, which was grounded worldwide between March 2019 and December 2020, as well as during January 2024, after fatal crashes in 2018 and 2019 caused by faulty flight-control software.

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