The U.S. added just 22,000 jobs in August, confirming dramatic slowdown in the labor market | AI News Digest
The U.S. labor market showed signs of significant slowdown in August, with only 22,000 jobs added, far below the expected 75,000. The unemployment rate rose to 4.3%, indicating increasing stress on the economy. Analysts noted that the economy appears stagnant, with revised data showing a contraction in job growth in June. Concerns have been raised about the potential politicization of the Bureau of Labor Statistics following the dismissal of its head. Additionally, hiring rates remained unchanged, and job openings fell to a 10-month low, suggesting a troubling trend ahead of the holiday season.
