In an unexpected and frankly pretty terrible turn of events, the U.S. economy only added 22,000 new jobs in August, falling way short of the projected 75,000 that Trump wanted. This is a massive slowdown, especially when you consider that the unemployment rate also ticked up to 4.3%. The data from the Bureau of Labor Statistics just confirms what a lot of people have been feeling: the job market is weakening.
What makes this even worse is that it’s not just a one-month thing. Per CNBC, the Bureau of Labor Statistics also revised the job numbers for June and July, and they’re not pretty. The revisions show that a combined 21,000 fewer jobs were added in those months than was previously reported. The revision for June actually showed a loss of 13,000 jobs, making it the first negative month for job growth since December 2020.
