US economy adds fewer jobs than expected
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Donald Trump, economy and jobs
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Despite President Trump's BLS shakeup, August delivered the slowest job growth for the month since 2010, with just 22,000 positions added — here's how to prepare for what could be a longer, tougher job market.
The Job Openings and Labor Turnover Survey (JOLTS) showed that layoffs rose slightly. The number of Americans quitting their jobs — a sign of confidence in their ability to find better pay, opportunities or working conditions elsewhere — was unchanged from June at 3.2 million.
2don MSN
Job openings fall again and hiring has stalled. More evidence of weakening U.S. labor market.
The number of job openings in the U.S. fell in July to the second lowest level since the pandemic and hiring patterns signal labor market is even weaker than it seems.
U.S. job growth weakened sharply in August while the unemployment rate increased to nearly a four-year high of 4.3%, confirming that labor market conditions were softening and sealing the case for an interest rate cut from the Federal Reserve this month.
The government revised its numbers from earlier in the summer and said the economy lost a net 13,000 jobs in June. It was the first such decline since December 2020.
As it turns out, according to the new report from the Bureau of Labor Statistics, the totals fell short of those expectations. CNBC News reported: Job creation sputtered in August, adding to recent signs of labor market weakening and likely keeping the Federal Reserve on track for a widely anticipated interest rate cut later this month.
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U.S. employers added just 22,000 jobs last month as the labor market continued to cool under uncertainty over President Donald Trump’s economic policies.