Economy adds disappointing 22,000 jobs in August, jobs report shows. Unemployment rises

U.S. hiring slowed further in August as President Donald Trump’s aggressive trade, immigration and federal layoff policies took a widening toll on a rapidly softening labor market.

Employers added a disappointing 22,000 jobs and the unemployment rate rose from 4.2% to 4.3%, the Bureau of Labor Statistics said Sept. 5.

Also worrisome: Payroll gains for June and July were revised down by a total 21,000 and now reveal the economy shed 13,000 jobs in June - the first job losses since the depths of the pandemic in December 2020.

The report would appear to cement a widely expected interest rate cut - the first since December - at the Federal Reserve's September 16-17 meeting, economists said.