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What to Expect From the Jobs Report Today
Forecasters say employers added 65,000 jobs as hiring slowed and the unemployment rate rose to 4.2%, while wage growth stayed near 3%.
- On Friday, the Labor Department is expected to report that U.S. employers added 65,000 jobs in August, rebounding from a 23,000-job decline in July, with unemployment ticking up to 4.2%.
- Employers are currently limiting new recruitment while retaining existing staff in what economists call a 'no-hire, no-fire' market, with layoffs staying historically low at around 200,000 to 230,000 unemployment benefit applications annually.
- President Donald Trump's immigration crackdown withdrew work authorization for 330,000 Haitian and Syrian immigrants, while baby boomer retirements have constrained labor supply, prompting businesses to prioritize technology and AI for efficiency.
- Wage gains remain modest at 3%, the weakest since May 2021, while entry-level workers face a difficult employment environment; EY-Parthenon economists Gregory Daco and Lydia Boussour attribute this to businesses prioritizing existing workforce efficiency.
- Hiring this year averages 61,000 jobs monthly, significantly trailing the 166,000 average in 2023 and 2024, as the United States requires fewer new jobs than previously believed to maintain unemployment stability.
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Associated Press News+11 Reposted by 11 other sources
United States likely added 65,000 jobs last month, but jobseekers struggle and pay gains are meager
The U.S. Labor Department is expected to report that the American job market bounced back last month from a dismal July.
·New York, United States
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Coverage Details
Total News Sources18
Leaning Left12Leaning Right0Center6Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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