US shed 23,000 jobs in July

Labor Department data paints an unexpectedly bleak picture in July.

Lacklustre figure prompts traders to scale back bets on Fed rate rises

Payrolls across the American economy contracted by 23,000 jobs in July and the unemployment rate ticked down to 4.1 percent. The public sector's payrolls fell sharply, and the services sector hiring was soft, with a large contraction in retail and leisure. The goods-producing side of the economy, however, saw a solid e