Meathead
Diamond Member
Even the new statisticians can't cover it up. Unemployment up. New jobs are a third of July's.
Fresh jobs data on Friday showed a continued hiring slowdown in the first such release since a dismal jobs report last month prompted President Donald Trump to fire the top official tasked with compiling labor statistics. The reading fell well short of economists' expectations.![]()
Hiring slowdown continues in 1st jobs report since Trump fired commissioner
A weak jobs report last month showed a sharp hiring slowdown.abcnews.go.com
The U.S. added 22,000 jobs in August, according to data from the U.S. Bureau of Labor Statistics. That figure showed a sharp decrease from 79,000 jobs added in the previous month. The unemployment rate ticked up to 4.3%, but it remained at a historically low level.
A previous jobs report showed a sharp slowdown of hiring over the summer, eliciting concern among some economists about a possible recession.
The U.S. added an average of about 28,000 jobs over three months ending in July, which marked a major cooldown from the roughly 196,000 jobs added on average over the previous three-month period, U.S. Bureau of Labor Statistics (BLS) data showed.
The jobs report on Friday included a downward revision for the month of June, saying the U.S. labor market had lost 13,000 jobs that month, much lower than a previous estimate of 14,000 jobs added. It marked the first monthly job loss since December 2020.