Kathmandu. The number of jobs in the U. S. has decreased by . The number of jobs in the U. S. fell unexpectedly in July due to a slowdown in the labor market. 

According to a report released by the U. S. Bureau of Labor Statistics, there were 23,000 job cuts in July. employment in the non-agricultural sector declined by 23,000 after the seasonal adjustment . Earlier, economists had forecast that jobs would increase by 83,000 in July. 

The previous month’s figure was also revised to show a decline of 20,000. According to the report, the unemployment rate has decreased to 4.1 percent while the labor force participation rate has decreased to 61.4 percent. This participation rate is the lowest point in the last five years. The labor force participation rate refers to the share of the population that is employed or actively seeking work. 

Regionally, 50,000 jobs have been lost in the local government education sector and 19,000 jobs in the retail sector. Similarly, 14,000 jobs were cut in financial activities and 40,000 jobs were cut in the entertainment and hospitality sectors. The health care sector, which is a key source of job creation, added 22,000 new jobs, although the 12-month average growth of36,000 was lower. 

According to economic indicators, the average hourly wage rate has remained stable, with a modest increase of just 2 cents. 

The report comes amid disagreements among the federal and policy makers over the next steps to tame high inflation.Market analysts have said that the prospects of a possible September interest rate hike have weakened after the disappointing employment figures were released.