The US added just 22,000 jobs in August, raising fears that the labour market is stalling and intensifying pressure on the Federal Reserve to slash borrowing costs this month.
Friday’s figure from the Bureau of Labor Statistics was far below the upwardly revised 79,000 jobs added in July and the 75,000 expected by analysts polled by Bloomberg.
June’s figure was revised down to a job loss of 13,000, the first time the economy has shed positions since the coronavirus pandemic in 2020.
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