US Job Growth Slows to 22,000 in August as Unemployment Rises to 4.3%
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Summary
The US job market showed significant signs of stalling in August, with only 22,000 jobs added and the unemployment rate rising to 4.3% - the highest level in nearly four years. The Bureau of Labor Statistics report also included a downward revision for June, showing the economy lost 13,000 jobs that month, indicating a concerning trend of labor market stagnation.
Key quotes
· 4 pulledThe US job market is stalling out.
Job growth slowed to a crawl in August, and the unemployment rate rose to its highest level in nearly four years, indicating the US labor market is growing stagnant.
The economy added just 22,000 jobs last month and the unemployment rate rose to 4.3% from 4.2%, according to the Bureau of Labor Statistics.
August's job report also included a downward revision to June, which showed the US economy lost 13,000 jobs that month.
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