#us-jobs

#us-jobs

Donald Trump's renewed anger at Jerome Powell over delayed interest-rate cuts has intensified after a dramatic revision cut U.S. job growth by 911,000 since 2024-adding fuel to Trump's criticism of the Fed and amplifying political strife ahead of the Federal Reserve's September meeting. For months, Trump has been vocal in his frustration with Federal Reserve chair Jerome Powell for being "too late" to cut rates, and he just got fresh ammunition in the latest jobs report data revision.

New figures from the Bureau of Labor Statistics shows that the job market is considerably weaker than initially believed, and has been since April 2024. The revised BLS findings, out Tuesday, showed 911,000 fewer jobs than what was initially reported painting an ugly picture of the U.S. economy over the past year. (BLS) The stats are preliminary, and the final figures will be released early next year, according to the Associated Press.

Wall Street is holding steady Thursday as the countdown ticks to an update on the U.S. job market coming Friday that could clear the way for the cuts to interest rates that investors love. The S&P 500 was virtually unchanged in morning trading. The Dow Jones Industrial Average was down 52 points, or 0.1%, as of 10:10 a.m. Eastern time, and the Nasdaq composite was flat.