U.S. employers unexpectedly cut 23,000 jobs in July, unemployment dips to 4.1%

U.S. employers unexpectedly cut 23,000 jobs last month, and Labor Department revisions shaved 103,000 jobs off payrolls in May and June. But the unemployment rate dipped to 4.1 per cent as Americans left the job market.

The June jobs numbers from the Labor Department Friday marked a sharp reversal for the American labour market.

Hiring had rebounded this year from a lacklustre 2025 in the face of the conflict in the Persian Gulf that has sent energy prices surging and put a strain on family budgets. Job growth had been solid, if unspectacular. Some businesses are having trouble filling vacancies. Others are using technology to do the work humans used to do.