U.S. Jobs Fell in July — First Drop in Months

U.S. employers cut 23,000 jobs in July 2026, the Bureau of Labor Statistics reported August 7 — the first monthly drop in months. The unemployment rate stayed at 4.1 percent, meaning hiring is slowing, not that layoffs are surging. With May's count trimmed by 74,000 and June job openings falling, the trend matters more than one month for the Federal Reserve's interest-rate-cut expectations.