"U.S. employers added just 22,000 jobs last month as the labor market continued to cool under uncertainty over President Donald Trump's economic policies.The Labor Department said Friday that hiring decelerated from 79,000 in July and came in below the roughly 80,000 economists had expected for August. The unemployment rate ticked up to 4.3%, also worse than expected and the highest level since 2021, the Labor Department reported Friday."
"Talking to reporters Thursday night at a dinner with wealthy tech executives, Trump had seemed to shrug off whatever hiring numbers would come out Friday. "The real numbers that I'm talking about are going to be whatever it is, but will be in a year from now," the president said.Factories shed 12,000 jobs in August, the fourth straight month that manufacturers have cut payrolls."
"Labor Department revisions cut 21,000 jobs off June and July payrolls and revealed that employers had actually cut 13,000 jobs in June, the first monthly job losses since December 2020.The U.S. job market has lost momentum this year, partly because of the lingering effects of 11 interest rate hikes by the Fed's inflation fighters ve in 2022 and 2023 and partly because Trump's policies, including his trade wars, have created uncertainty that leaves managers reluctant to make hiring decisions."
U.S. hiring slowed sharply in August, with payrolls up by just 22,000 and the unemployment rate rising to 4.3%, the highest since 2021. Hiring decelerated from 79,000 in July and fell short of the roughly 80,000 economists expected. Revisions trimmed 21,000 jobs from June and July and showed a 13,000-job decline in June, the first monthly loss since December 2020. Manufacturing, construction and the federal government cut payrolls. The slowdown reflects lingering effects of 11 Fed rate hikes in 2022–2023 and policy uncertainty from tariffs and trade actions that have made employers cautious.
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