The unemployment rate dipped to 4.1% only because Americans left the job market

US employers unexpectedly cut 23,000 jobs last month, and labour department revisions shaved 1,03,000 jobs off payrolls in May and June. The unemployment rate dipped to 4.1% only because Americans left the job market. Local public schools cut 50,000 jobs in July, restaurants and bars 26,000, retailers 19,000.