The U.S. job market stagnated throughout the summer, adding 22,000 jobs in August, and the labor market slowed as businesses adapted to the damage caused by tariffs.
The latest work report also contains more bad news. According to the latest survey, the United States lost 13,000 jobs in June.
Unemployment accounted for 4.3% in August, the highest since 2021.
The data closely watched comes from a monthly survey of employers conducted by the Bureau of Labor Statistics (BLS), which has been under attack Donald Trump After revising its findings last month, it showed that early summer recruitment is much weaker than initially reported.
Last month, BLS cut more than 250,000 new workloads created in May and June. These figures – when revised, when the agency received more reports from businesses and government agencies, the figures for summer recruitment were much lower than the first reports. Revised figures for May and June were 19,000 and 14,000, respectively, the lowest since the pandemic.
These characters have been revised again this month. BLS revised its computers for June, down from +14,000 to -13,000, while the July change rose from +73,000 to +79,000. Work in June and July combined was 21,000 lower than previously reported.
Although Trump claimed the revision was “to make Republicans and I look bad, August numbers show that even if Trump fired the bureau’s revenge commissioner, the pattern of decline continued. Trump nominated a conservative ally who helped write the 2025 project as a commissioner for the Radiocommunication Bureau, leaving behind many economists Worry About the future of the bureau.
Data from other sources other than the premises also highlights the stagnation of the labor market. Payroll Company adp Private employers added 54,000 jobs in August, down from nearly 20,000 jobs, reported Thursday. Opplacement challenger, Gray & Christmas also reported that layoffs hit 85,979 in August, up 39% from July and 13% from August 2024.
“The year began with strong growth in jobs, but this momentum was whipped by uncertainty. A variety of things could explain the slowdown in hiring, including labor shortages, snack consumers and AI disruptions.”
The Fed has been monitoring the signs of the labor market that it may need to adjust interest rates. In his speech Last month, at Jackson Hole, Wyoming, Fed Chairman Jerome Powell seemed to suggest officials tend to cut speeds at their next Sept. 17 meeting.
While Wall Street investors have been waiting for the Fed’s next tax cut, which will be the first cut since December, the next cut may follow warn. Powell stressed that it is not clear what impact Trump’s tariffs and immigration policies will have on the economy.
“Where all these policies will eventually be addressed and their lasting impact on the economy will create serious uncertainty,” he said.
Powell warned that while new jobs are added every month, “the downside risk of employment is rising.
Health & Wellness Contributor
A wellness enthusiast and certified nutrition advisor, Meera covers everything from healthy living tips to medical breakthroughs. Her articles aim to inform and inspire readers to live better every day.
