US economy added just 22,000 jobs in August, unemployment rises to highest level in nearly four years | AI News Digest
The US economy added only 22,000 jobs in August, marking a significant slowdown and raising the unemployment rate to 4.3%, the highest in nearly four years. This disappointing report comes amid ongoing concerns about the labor market's health, particularly for Black workers, whose unemployment rate has surged to 7.5%. Economists had anticipated a gain of around 76,500 jobs, highlighting the stark contrast between expectations and reality. The report also included downward revisions for previous months, indicating a troubling trend in job growth. The current economic climate, influenced by President Trump's trade policies, has led to fewer job openings than unemployed individuals for the first time in over four years, signaling a potential turning point for the labor market.
