"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. The unemployment rate ticked up to 4.3%, also worse than expected and the highest level since 2021, the Labor Department reported Friday. RELATED: Oracle, Salesforce slash hundreds of Bay Area jobs"
"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. The U.S. job market has lost momentum this year, partly because of the lingering effects of 11 interest rate hikes by the"
"The labor market is showing signs of cracking, said Heather Long, chief economist at Navy Federal Credit Union. It's not a red siren alarm yet, but the signs keep growing that businesses are starting to cut workers.'' The Labor Department reported Thursday that the number of Americans applying for unemployment benefits a proxy for layoffs rose last week to the highest level since June, though the number of claims remained within a healthy range."
U.S. payrolls increased by just 22,000 in August while hiring fell from 79,000 in July and the unemployment rate rose to 4.3%, the highest since 2021. President Donald Trump reacted to prior weak data by firing the economist who compiles the numbers and nominating a loyalist, and he questioned the short-term relevance of the figures. The slowdown reflects the lingering effects of 11 Federal Reserve interest-rate hikes and policy uncertainty, including trade tensions, which have made managers reluctant to hire. Initial unemployment claims recently climbed to their highest level since June.
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