"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 new data exposed the widening gap between the booming economy Trump promised and the more anemic reality of what he's managed to deliver so far. The White House prides itself on operating at a breakneck speed, but it's now asking the American people for patience, with Trump saying better job numbers might be a year away. "We're going to win like you've never seen," Trump said Friday."
The U.S. added only 22,000 jobs in August and the unemployment rate rose to 4.3%. Factories and construction firms cut staff, and June was revised to a loss of 13,000 jobs, the first monthly loss since December 2020 during the COVID-19 pandemic. Hiring has collapsed while inflation has begun rising again as tariffs take effect. The White House has asked for patience and President Trump said stronger job numbers might be a year away. Approval of Trump's economic leadership fell from 56% in early 2020 to 38% in July per AP-NORC polling. Trump blamed Federal Reserve Chair Jerome Powell for not cutting rates, though steep cuts could fuel higher inflation, and investors expect a Fed rate cut in September partly because of weakening jobs.
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