August jobs report: US job growth remained sluggish amid economic uncertainty

The American economy added functions at a slower pace in August amid uncertainty about economic conditions, which increases the signs of weak labor market.

The Ministry of Labor stated on Friday that employers He added 22,000 jobs In August, there was a much lower number of 75,000 economists’ estimates of Economists.

the Unemployment It also rose to 4.3 % in August, which was in line with expectations and higher reading 4.2 % in July.

August data is following a report on soft recruitment last month, prompting President Donald Trump to launch the BLS Commissioner.

Job gains were revised in the previous two months in the August report, as job opportunities were revised in June by 27,000 profits of 14,000 to a loss of 13,000; The creation of job opportunities in July was revised from 6000 profit from 73,000 to 79,000.

Completely, employment in June and July was less than 21,000 jobs less than it mentioned.

Trump orders the completion of the responsible work statistics after the report and the descending reviews

Special salary statements added 38,000 jobs in August, much less than the profit of 75,000 jobs by LSEG.

government salaries rejected 16,000 jobs. Federal government workers decreased by 15,000 jobs, while state governments get rid of 13,000 jobs. These job losses were partly compensated by 12,000 jobs in the local government, most of which were in education. Federal employment has decreased 97,000 jobs since its peak in January, and BLS indicated that employees on a quick leave or receive service salaries are calculated in general in the corporate survey.

The manufacturing sector lost 12,000 jobs in August, a sharp decrease in a decrease in 5,000 jobs estimated by LSEG.

Healthcare opportunities have added 30,600 jobs, which have been less than average monthly profit of 42000 over the past 12 months. Work in the direction in August for ambulance health care services (+12,700), residential care and care facilities (+9,100) and hospitals (+8,800).

BESSENT Treasury says it does not support the suspension of monthly job reports

Employment went to social assistance up in August with a profit of 16200 jobs amid continuous growth in individual and family services.

Oil and gas extraction, mining, and work quarries decreased by 5,500 jobs in August, after little changed during the past 12 months.

The workforce sharing rate did not change slightly by 62.3 %, and the employment population did not change at 59.6 %. Both procedures decreased by 0.4 percentage points this year.

The number of people who are considered unemployed in the long term, which was defined as unemployed for 27 weeks or more, has not changed 1.9 million in August, but it rose by 385,000 this year. The unemployed in the long term constituted 25.7 % of all the unemployed in August.

The manufacturing sector lost more jobs than expected in August, and 78,000 jobs decreased this year. (Emily Elconin / Bloomberg via Getty Images / Getty Images)

Workers who were part -time for economic reasons in August did not change at 4.7 million. These workers preferred to work full time, but they were working part -time because their hours were cut or unable to find full -time jobs.

The number of multiple currencies increased by 443,000 jobs in August and represented 5.4 % of the total employment last month.

The Federal Reserve Chairman refers to the labor market in the Federal Reserve in the labor market

The August report comes as jobs at a time when the Federal Reserve weighs a potential reduction in the interest rate despite continuous inflation, which has increased beyond the goal of the Federal Reserve by 2 % in recent months as the customs tariff strengthens consumers, due to the weaknesses in the labor market.

Federal Reserve Chairman Jerome Powell suggested that if employment and inflation get worse, politicians will focus on their double mandate under the greatest pressure. (Kent Nishimura / Getty Images / Getty Images)

Federal Reserve Chairman Jerome Powell previously noted that the central bank is likely to reduce prices earlier this year, but due to concerns about the definitions that feed inflation. Inflation printing at the Consumer Prices Index (CPI) for the month of July was 2.7 %, while inflation reading was at PECE (PCE) for this month 2.6 %. The consumer price index data is scheduled to come out next week before the decision to reduce the interest rate on September 17.

“The labor market stops through the rest, as companies slow the frequency of employment and wait for clarity on the customs tariff and the Federal Reserve policy,” said Jeffrey Roche, the chief economist in LPL, who indicated that the Federal Reserve is likely to focus on the weak labor market in the decision to reduce prices. “The employment data may not be weak enough to reduce the Federal Reserve by 50 points mainly due to the continued inflation, so far, our expectations are dedicated to lowering 25 basis points.”

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Sima Shah, chief global strategy in the management of the main assets, said that the Jobs August report “revolves around the balance between the market expectations for the sequence of cuts in interest rates, and has not yet called on renewable concerns about the recession, and therefore the broad market response should be moderately positive.”

“But concerns about the health of the economy have begun to crawl and will further deteriorate in the labor market to the balance” bad news is simply bad news. “Likewise, the printing of strong inflation next week can strike new concerns about a mixture of stagnation.”

The market’s reaction to the August Jobs report by locking expectations to reduce the September rate of the current Federal Funds rate at the Federal Reserve of 4.25 % to 4.5 %. The probability of reducing 25-Basis yesterday was 96.4 % and decreased to 84 % today, as the possibility of 50-basis reduced from scratch increased to 16 %, according to the CME Fedwatch tool.