Employers Unexpectedly Cut 23,000 Jobs in a Sign of a Wilting Labor Market

U.S. employers shed 23,000 jobs in July and revisions cut the prior two months’ gains, the Labor Department reported, a sharply weaker picture than forecasters expected. The unemployment rate nonetheless ticked down, and stocks hit a record high the same day — a split screen that has become the defining feature of an economy Trump praises and the data keep complicating.