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.
‘Bomb cyclone’ forecasted to bring heavy snow, blizzard conditions and dangerous travel
A 'bomb cyclone' is intensifying severe winter weather for millions of people across the U.S. The system is expected to knock out power and disrupt holiday travel.
Russia sends 3 Iranian satellites into orbit, report says
The report said that a Russian rocket sent the satellites on Sunday from a launchpad in eastern Russia.
Viral global TikToks: A twist on soccer, Tanzania’s Charlie Chaplin, hope in Gaza
TikToks are everywhere (well, except countries like Australia and India, where they've been banned.) We talk to the creators of some of the year's most popular reels from the Global South.
This painting is missing. Do you have it?
An important work from a rediscovered artist has been absent from public view since the 1970s. A New York curator is hunting for it.
Memory loss: As AI gobbles up chips, prices for devices may rise
Demand for memory chips currently exceeds supply and there's very little chance of that changing any time soon. More chips for AI means less available for other products such as computers and phones and that could drive up those prices too.
Brigitte Bardot, sex goddess of cinema, has died
Legendary screen siren and animal rights activist Brigitte Bardot has died at age 91. The alluring former model starred in numerous movies, often playing the highly sexualized love interest.
