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US employers unexpectedly cut 23,000 jobs amid strain from the Iran war, unemployment dips to 4.1%
['Associated Press']
WTVQWTVQ
US employers unexpectedly cut 23,000 jobs amid strain from the Iran war, unemployment dips to 4.1%FILE - Hiring sign for sales professionals is displayed at a store, in Vernon Hills, Ill., Wednesday, April 15, 2026.
(AP Photo/Nam Y. Huh, file)WASHINGTON (AP) — U.S. employers unexpectedly cut 23,000 jobs last month, and Labor Department revisions shaved 103,000 jobs off payrolls in May and June.
The unemployment rate dipped to 4.1% only because Americans left the job market.
Economists have used the term “no hire, no fire” to describe the unusual job market conditions.
Tthe United States doesn’t need as many jobs as it used to keep the unemployment rate from rising.