The U.S. economy unexpectedly lost 23,000 jobs in July, according to BLS data. File Photo by Tasos Katopodis/UPI | License Photo
Aug. 7 (UPI) -- U.S. employers unexpectedly cut jobs in July even as the unemployment rate ticked lower, according to data released Friday by the Bureau of Labor Statistics.
Nonfarm payrolls fell by 23,000 on a seasonally adjusted basis, down from June's downwardly revised 20,000 reading.
Analysts polled by Econoday had expected the economy to add 88,000 jobs.
The unemployment rate was 4.1% in July, down from 4.2%. The consensus on Econoday was for 4.2%. The labor force participation rate slipped to 61.4% from 61.5% the month before.
