""ouch.""
""The numbers this morning are quite consistent with other things we've been seeing on the jobs market, and it suggests that the economy is just running out of momentum,""
The U.S. economy added 22,000 jobs in August, well below the 75,000 expected, and June job growth was revised to the first employment decline since December 2020. Unemployment rose to its highest level since October 2021. Nine major sectors recorded month-over-month employment declines, affecting both white-collar and blue-collar fields, while private education and health services showed gains driven by healthcare and social assistance. July unemployment exceeded posted job openings for the first time since 2021. The Federal Reserve is likely to cut rates soon, but consumers may not see immediate relief and job seekers face a tougher market.
Read at Business Insider
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