US economy added just 22,000 jobs in August, unemployment highest in 4 yrs
5 days ago
- #unemployment
- #job market
- #US economy
- US job growth slowed significantly in August, adding only 22,000 jobs.
- Unemployment rate rose to 4.3%, the highest in nearly four years.
- June's job numbers were revised downward, showing a loss of 13,000 jobs.
- Economists expected 76,500 new jobs, but actual numbers were much lower.
- Stock markets rose as weak job data increased expectations of a Fed rate cut.
- Average monthly job gains through August were the slowest since 2010 (excluding pandemic).
- Economic uncertainty and policy changes are stalling hiring efforts.
- Labor force participation increased slightly to 62.3%, but job opportunities remain scarce.
- Health care sector added 46,800 jobs, but most industries saw limited growth.
- Wage growth slowed to 3.7% annually, indicating softening labor market conditions.