The U.S. added only 22,000 jobs last month, showing cracks in the labor market
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.
Loading…
Overall the labor market has shown little growth since April, and the unemployment rate inched up in August to 4.3%.
Loading…
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 job openings.
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.
Memphis and Portland, Ore. brace for troops. Why Chicago might be next
Illinois Gov. JB Pritzker said the Department of Homeland Security has requested for 100 military personnel to help protect ICE agents and facilities in his state.
5 takeaways from the U.S. ceasefire proposal for Israel and Hamas
The leaders of the U.S. and Israel say they have agreed to a broad plan that could end Israel's war in Gaza. But substantial uncertainties remain.
Government to shut down after midnight barring last minute breakthrough in Congress
Democrats and Republicans have been unable to resolve an impasse over federal healthcare spending. The government will shutdown at the end of the day on Tuesday barring a last-minute breakthrough.
EV sales surge in the U.S. ahead of Sept. 30 tax credit deadline
A $7,500 tax credit is available for the lease or purchase of many electric vehicles — but only if contracts are inked by midnight on Sept. 30. The result: The market for EVs is a little distorted.
Trump, Hegseth to headline a highly unusual gathering of top military officials
It is highly unusual to bring in military leaders from across the globe to one central location. The president said the meeting would discuss "esprit de corps."
As sports betting explodes, should states set more limits to stop gambling addiction?
With concerns about addiction rising, some advocates and lawmakers call for federal regulations on the gambling industry — but would settle for more state laws to help curb excessive betting.