US jobs market weakens in August as unemployment rises to 4.3%
The US jobs market showed fresh signs of weakness in August, adding to growing concerns about the health of the world’s largest economy. According to the Labor Department, employers created just 22,000 jobs last month, well below expectations, while the unemployment rate edged up from 4.2% to 4.3%. The figures marked the latest in a series of disappointing data releases. Earlier revisions revealed that hiring in May and June was far weaker than initially reported, with June actually recording a job loss — the first monthly decline since 2020. The slowdown underscores a broader cooling trend that began after the post-pandemic rebound. The data virtually guarantees that the Federal Reserve will cut interest rates at its upcoming meeting, investors said. “The warning bell that rang in the labour market a month ago just got louder,” noted Olu Sonola, head of […]
