U.S. employers cut 23,000 jobs in July, and job gains for the two previous months were weaker than initially reported, according to a report Friday from the Labor Department.

ADP reports US private employers added just 44,000 jobs in July, the weakest gain in six months, boosting expectations for Fed rate cuts that

American businesses added fewer jobs in July than experts had predicted, with private payrolls up by just 44,000— the weakest increase this year. Conversely, job switchers enjoyed…