The Economy Unexpectedly Shed 23,000 Jobs in July—Yet Unemployment Fell to 4.1

U.S. payrolls declined by 23,000 jobs in July while the unemployment rate fell to 4.1 percent, according to employment data released in July 2026. Public sector payrolls fell, and the services sector saw soft hiring with declines in retail and leisure. Construction and durable goods manufacturing expanded during the same period.

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