US loses 23,000 jobs in July as labor force participation falls to five-year low

The US lost 23,000 jobs in July, while unemployment fell to 4.1 percent only because labor force participation slumped to a five-year low. Government shed 53,000 jobs, retail lost 19,000, and leisure and hospitality dropped 40,000. Healthcare added 22,000. Some 264,000 people left the workforce, and June gains were revised down to 20,000. The report points to a low-hire, low-fire economy and may keep the Federal Reserve from cutting rates. Gold rose 2.2 percent as markets gained.