Unemployment just hit 4% as 404,000 people lost their jobs in July — a worrying uptick after a spring decline. Benefit claims rose too, but the real story? Three million others are quietly out of the workforce — retired, ill, or disabled. Men under 45 took the biggest hit, while women saw a slight dip. The East feels the strain hardest, while the South and West are recovering. After peaking in February, this reversal signals a fragile rebound — and we’re watching closely to see if it sticks.
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