July 2025 REPORT
Main Street cools as summer slowdown dampens hiring and activity
Key findings:
- Employee participation and hours worked fell -0.7% and -0.3%, reflecting typical mid-summer slowdowns, though declines were softer than July 2024.
- Business openings dropped across all regions; the Southwest and Southeast lagged, while only the Northeast posted gains in employee activity.
- Entertainment led job growth with a +2.7% increase, supported by hospitality; personal services and retail continued to decline.
- Wages rose modestly despite a -11.7% drop in hiring, as businesses focused on retention; turnover held steady.
