US employers unexpectedly cut 23,000 jobs in July, while payroll gains for May and June were revised down by 103,000. The unemployment rate fell to 4.1% largely because 264,000 Americans left the labour force. Economists say rising energy costs linked to the Iran conflict, slower hiring, and increased use of technology are adding pressure to the US labour market.
Washington, August 7, 2026: US employers unexpectedly shed 23,000 jobs in July, while revisions by the Labor Department reduced previously reported payroll gains for May and June by a combined 103,000. The unemployment rate fell to 4.1 per cent, largely because fewer Americans remained in the labour market.
July Payrolls Defy Forecasts
The latest Labor Department figures marked a sharp deterioration in the US labour market and dealt a political setback to President Donald Trump, with the Republican Party seeking to retain control of Congress in the midterm elections.
Economists had forecast that employers would add nearly 100,000 jobs in July. Instead, local public schools shed 50,000 jobs, restaurants and bars lost 26,000 positions, and retailers cut 19,000.
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