U.S. employers unexpectedly cut 23,000 jobs amid strain from the Iran war, unemployment dips to 4.1%
Summary
U.S. employers cut 23,000 jobs last month, which was not expected. The unemployment rate fell to 4.1%, but this happened because many people stopped looking for work, not because more people got jobs.Key Facts
- U.S. employers cut 23,000 jobs in June.
- The Labor Department revised May and June job numbers downward by 103,000.
- The unemployment rate dropped to 4.1%.
- The drop in unemployment is linked to people leaving the job market.
- The job losses indicate a slowdown in the U.S. labor market.
- The data presents a challenge for President Donald Trump and his Republican party ahead of the midterm elections.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
