America lost jobs for the first time since 2020
Just 22,0000 jobs were added in August, compared to expectations for 76,500 new roles.
The latest employment snapshot from the Bureau of Labor Statistics paints a bleak picture of the current state of the economy under President Donald Trump.
June’s job total was negative, shedding 13,000 positions and marking the first time since the pandemic that the economy actually lost jobs.
The unemployment rate rose to 4.3%, its highest level since 2021, meaning 7.4 million Americans are without work.
Manufacturing jobs, a key focus of President Donald Trump’s economic agenda, fell for the fourth month in a row for a total of 78,000 lost jobs so far this year.
Black unemployment climbed to 7.5%, the highest level in almost four years.
The only potential good news for Trump is that the Fed may finally opt to slash its interest rate — but to support the economy, not to please the president.
