US employers unexpectedly cut jobs in July and hiring in the prior two months was revised lower, suggesting the labor market is weaker than previously thought after surprising strength earlier this year. Nonfarm payrolls decreased 23,000 last month following a combined 103,000 downward revision to the May and June figures, Bureau of Labor Statistics data showed Friday. The unemployment rate fell to 4.1% as labor force participation continued to slide, and wage growth slowed. Bloomberg's Tom Keene and Damian Sassower break down the numbers with: Claudia Sahm, Chief Economist at New Century Advisors Constance Hunter, Chief Economist at EIU Kristina Campmany, Senior Portfolio Manager at Invesco Andrew Hollenhorst, Chief US Economist at CitiStephanie Roth, Wolfe Research Chief Economist See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information. Tom Keene, Paul Sweeney, Lisa Mateo and Michael Barr have the economy and the markets "under surveillance" as they cover the latest in finance, economics and investment, and talk with the leading voices shaping the conversation around world markets. Watch Surveillance TV LIVE each mornings: http://bit.ly/3P7nstQ Watch Surveillance Radio LIVE weekday mornings: http://bit.ly/3vTiACF Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts Listen to more Bloomberg Surveillance: https://youtube.com/playlist?list=PLe4PRejZgr0OA0Pnb-62GrhgZ_ziGyxMJ #Bloomberg #Podcast #Surveillance #News #Markets Visit us: https://www.bloomberg.com/podcasts Follow Bloomberg Podcasts on Twitter: https://twitter.com/podcasts Visit our other YouTube channels: Bloomberg Television: https://www.youtube.com/@markets Bloomberg Originals: https://www.youtube.com/bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake For coverage on news, markets and more: http://www.bloomberg.com/video