U.S. employers cut 23,000 jobs in July as unemployment falls to 4.1%

U.S. employers unexpectedly cut 23,000 jobs in July, a political setback for Trump before midterms, while unemployment fell to 4.1% as 264,000 left the workforce. The Labor Department revised May and June downward by 103,000 jobs, versus analyst forecasts of nearly 100,000 new positions. Local public schools cut 50,000 jobs, restaurants and bars 26,000, and retail 19,000; construction and factories added jobs. The labor market shows a "no hire, no fire" pattern: available workers are scarce, productivity is rising, and hiring faces uncertainty from energy prices and artificial intelligence.