US EditionUS payrolls rose 22,000 in August, less than expected in further sign of hiring slowdown
- The Labor Department revealed that job growth in the nonfarm sector increased by 22,000 during August, falling short of the anticipated 80,000 new positions.
- This slowdown comes after revisions removed over 250,000 previously reported job additions in May and June, and coincided with President Trump dismissing the head of the agency responsible for labor data amid accusations that the employment figures had been manipulated.
- The report showed the unemployment rate increased to 4.3%, its highest since 2021, with declines in manufacturing and government jobs offsetting health care gains.
- Fed Chair Jerome Powell noted changing economic conditions may require policy adjustments, and CME data indicate a 99.1% chance of the Fed lowering rates by at least 0.25% at its September 17 meeting.
- These trends suggest ongoing labor market weakening and raise concerns about the U.S. economy's health, influencing expectations for near-term Federal Reserve interest rate cuts.
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It changes the head of the statistical office of the Department of Labour, but it does not change the negative trend of the US economy. Only 22 thousand jobs created in August in the US. A figure decidedly below expectations compared to 75 thousand that had been predicted by analysts, as well as in line with the unemployment rate, rising to 4.3%, the highest level since the end of 2021. These are the data contained in the report of the Bureau of…
·Rome, Italy
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Coverage Details
Total News Sources100
Leaning Left22Leaning Right15Center35Last UpdatedBias Distribution49% Center
Bias Distribution
- 49% of the sources are Center
49% Center
L 31%
C 49%
R 21%
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