U.S. employers cut 23,000 jobs in July, the Bureau of Labor Statistics said on August 7, missing consensus forecasts that called for gains of roughly 83,000 positions. The unemployment rate ticked down to 4.1%, but the drop came alongside a shrinking labor force rather than a hiring surge. Key Takeaways U.S. employers cut 23,000 jobs in July, the first monthly loss since February, far below the roughly 83,000 gain economists had forecast. The unemployment rate fell to 4.1% in July, but labor force participation dropped to 61.4%, its lowest level since February 2021. May and June job gains were