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U.S. Added Just 22,000 Jobs In August In Latest Sign Of Slowing Economy
Deadline· 2025-09-05 12:37
Group 1: Employment Data - The U.S. added 22,000 jobs in August, with unemployment rising slightly to 4.3%, indicating a slowing economy [1] - The latest jobs figures were lower than economists' expectations, with July's figures revised up by 6,000 to 79,000 jobs added, while June's figures were revised down from 14,000 to a loss of 13,000, marking the first month of job loss since December 2020 [2] - Jobs in the movie and music industry fell by 7,600 to 401,000, while broadcasting jobs dropped by 300 to 333,700 [3] Group 2: Sector Performance - The largest job gains in August were in health care and social assistance, while employment in the federal government continued to decline [3] - There were drops in mining, quarrying, oil and gas extraction, and wholesale trade, with manufacturing jobs declining by 12,000, totaling a loss of 78,000 for the year [3] Group 3: Wage Trends - Average hourly earnings rose by 10 cents to $36.53, with hourly wages increasing by 3.7% over the past 12 months [4] Group 4: Federal Reserve Implications - The slowing economy is putting pressure on the Federal Reserve to consider lowering interest rates, as indicated by Chairman Jerome Powell [4]