Reported about 5 hours ago
The US labor market showed signs of significant slowdown in August, with only 22,000 new jobs added and the unemployment rate rising to 4.3%. This dramatic drop fell short of economists' expectations of 75,000 new jobs. Revised figures indicated that over the past three months, the economy created less than 30,000 jobs on average, while the education and health services sectors were the primary job creators despite notable losses in durable goods and business services. The report has led to speculation about potential rate cuts by the Federal Reserve.
Source: YAHOO