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The US added only 22,000 jobs last month, showing cracks in the labor market
U.S. employers added just 22,000 jobs in August. A small gain in health care jobs was partially offset by continued cutbacks in the federal government.
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Cracks in the U.S. economy: Average Job growth slows by 75% in the last 4 months
The U.S. job market showed more signs of weakness Friday, as the Labor Department reported just 22,000 jobs added in August. Revised figures show the economy lost jobs in June, for the first time since the pandemic winter of 2020.
The job market downshifted significantly over the summer.
U.S. employers added just 22,000 jobs in August, according to a report Friday from the Labor Department, while revised figures showed a net loss of jobs in June for the first time since 2020, in the midst of the pandemic.
Overall, the labor market has shown little growth since April, and the unemployment rate inched up in August to 4.3%.
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The monthly employment report is the latest sign of weakness in the job market. It comes after President Trump abruptly fired the Labor Department official who oversaw the jobs data after a similarly disappointing report a month ago.
For the first time in more than four years, there are more people looking for work in the U.S. than there are job openings.
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The House of Representatives was sent home for the duration of the government shutdown. Members returned to the Capitol Wednesday with a lot on their minds. -
Immigrants in California's newest ICE detention center allege they're experiencing inhumane conditions and that they're not getting access to lawyers. Until recently, the site was a state prison. -
The announcement follows harsh criticism from the Trump administration about California and other states granting licenses to people in the country illegally.
Factories and construction companies continued to cut workers in August, while a modest increase in health care jobs was partially offset by continued cuts in the federal workforce. The federal government has shed some 97,000 jobs since the beginning of the year, and government payrolls are expected to shrink further in the coming months when severance payments to employees who took buyouts end.
Weakness in the job market is likely to prompt the Federal Reserve to lower interest rates when policymakers meet later this month. Investors widely expect the Fed to cut its benchmark rate by a quarter percentage point.
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But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
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