The US labor market experienced an unexpected downturn last month, with employers cutting 23,000 jobs and previous figures revised significantly downwards.
The Labor Department's Friday report revealed an additional 103,000 jobs were removed from payrolls in May and June. While the unemployment rate dipped to 4.1%, its lowest since June 2025, this was attributed to 264,000 Americans exiting the workforce, rather than robust job creation.
