US economy loses 23,000 jobs in July, unemployment stays at 4.1%

US unemployment rate stayed at 4.1% in July as nonfarm payrolls shed 23,000 jobs, indicating a steady but softening labour market. Government education lost 50,000 positions and retail lost 19,000, while health care added 22,000 jobs—below its recent monthly pace. The number of unemployed stood at 6.9 million, little changed from June. Payroll gains for May and June were revised down by a combined 103,000 jobs. Average hourly earnings remained at $37.62, with annual wage growth easing to 3.2%.