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US employers likely added a modest 80,000 jobs last month, a sign that the labor market has cooled
- The Bureau of Labor Statistics reported that U.S. employers likely added a modest 80,000 jobs in August, signaling a cooled labor market.
- This slowdown comes after recent adjustments lowered hiring numbers to their lowest point observed since the onset of the COVID-19 pandemic, alongside the continuing impact of Federal Reserve rate increases and trade-related uncertainties.
- Other signs include stagnant economic activity reported by the Federal Reserve, a fall in job openings in July, and increased layoff announcements in August.
- Heather Long indicated that the job market may be weakening, while experts predict the unemployment rate will rise slightly from 4.2% to 4.3%.
- The modest job gains and weak hiring plans suggest continued labor market fragility, which may influence the Federal Reserve to lower interest rates in their September meeting.
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US jobs data boosts rate cut hopes but stocks slide
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·Missoula, United States
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U.S. may have gained 80,000 jobs in August, signaling a cooling job market
When the Labor Department put out a disappointing jobs report a month ago, an enraged President Donald Trump responded by firing the economist in charge of compiling the numbers and nominating a loyalist to replace her.Nothing quite so dramatic is likely Friday when the department releases hiring and unemployment numbers for August. They are expected to show that companies, government agencies and nonprofits added a modest 80,000 jobs last month…
Coverage Details
Total News Sources89
Leaning Left11Leaning Right15Center23Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 22%
C 47%
R 31%
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