EconomyUS Employers Cut Jobs, Unemployment Rate Falls

US nonfarm payrolls fell by 23,000 last month, according to Bureau of Labor Statistics data released Friday. Payroll figures for May and June were also revised down by a combined 103,000. The unemployment rate declined to 4.1% as labor force participation continued to weaken, while wage growth slowed. Claudia Sahm of New Century Advisors and Constance Hunter of EIU reacted to the July employment figures.