The Labor Department reported Friday that American nonfarm employers cut 23,000 jobs in July, a drop some attribute to employers’ wariness to hire amidst tariffs and the costs of the war in Iran.

At the same time, the unemployment rate fell slightly, from 4.2 percent to 4.1 percent, a drop economists attributed not to more people being employed, but rather to fewer people entering the labor force.

“The rate dropped to 4.1 percent in large part because labor force growth has stalled, not because opportunity is expanding,”........

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