- The US economy added 22,000 jobs in August, fewer than anticipated, with unemployment increasing to 4.3 per cent, the highest level since 2021.
- This August jobs report is the first since Donald Trump dismissed Bureau of Labor Statistics commissioner Erika McEntarfer, following his baseless claims that previous employment figures were “phony”.
- Donald Trump criticised Federal Reserve chair Jerome Powell for not reducing interest rates, a sentiment echoed by White House press secretary Karoline Leavitt.
- Revisions revealed the economy lost 13,000 jobs in June, and sectors such as manufacturing, construction, and federal employment experienced declines, though healthcare added jobs.
- Economists interpret the report as the clearest indication yet of a cooling labour market, raising concerns about the potential politicisation and trustworthiness of US jobs data.
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