"The U.S. job market has gone from healthy to lethargic during President Donald Trump's first seven months back in the White House, as hiring has collapsed and inflation has started to climb once again as his tariffs take hold. Friday's jobs report showed employers added a mere 22,000 jobs in August, as the unemployment rate ticked up to 4.3%. Factories and construction firms shed workers. Revisions showed the economy lost 13,000 jobs in June, the first monthly losses since December 2020, during the COVID-19 pandemic."
"The situation has left Trump searching for others to blame, while Democrats say the problem begins and ends with him. Trump maintained Friday that the economy would be adding jobs if Federal Reserve Chair Jerome Powell had slashed benchmark interest rates, even though doing so to the degree that Trump wants could ignite higher inflation. Investors expect a rate cut by the Fed at its next meeting in September, although that's partially because of weakening job numbers."
Employers added only 22,000 jobs in August and the unemployment rate rose to 4.3%. Factories and construction firms cut payrolls, and June was revised to a 13,000 job loss, the first monthly decline since December 2020. Tariff-driven price pressures have rekindled inflation as hiring collapses. The White House has asked for patience, with President Trump saying better job numbers might be a year away and predicting a manufacturing rebound. Approval of Trump's economic leadership fell from 56% in early 2020 to 38% in July per AP-NORC polling. Trump blamed the Federal Reserve for not cutting rates, while investors now expect a September rate cut partly due to weakening jobs.
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