August’s report gave signs of a cooling labor market with negative job numbers for the first time since 2020 – here’s what we learned
A closely watched report on US jobs released on Friday gave signs of a cooling labor market.
The economy added just 22,000 new jobs in August, coming in below expectations, while the unemployment rate ticked slightly up to 4.3%, according to the Bureau of Labor Statistics. At the beginning of the year, more than 100,000 jobs were being added each month.
Amid Donald Trump’s trade wars, tariffs have now been put on most foreign goods and prices have started going up. Uncertainty seems to have spooked businesses and this combination of a slowing jobs market and higher inflation paints a murky picture of the US economy.
Here’s what we learned with Friday’s report:
