US employers cut nonfarm payrolls by 23,000 in July and prior months were sharply revised down, the BLS said on Friday. The unemployment rate fell to 4.1% while the labor force participation rate continued to drift lower. The report flags a potential softening in the labor market amid rising inflation and heightened uncertainty from the Iran conflict, though still-robust consumer demand is sustaining some hiring. The print could encourage the Fed to delay further rate hikes as policymakers balan

US employers cut nonfarm payrolls by 23,000 in July and prior months were sharply revised down, the BLS said on Friday. The unemployment rate fell to 4.1% while the labor force participation rate continued to drift lower. The report flags a potential softening in the labor market amid rising inflation and heightened uncertainty from the Iran conflict, though still-robust consumer demand is sustaining some hiring. The print could encourage the Fed to delay further rate hikes as policymakers balance inflation pressures against employment risks.