Tag: August jobs report

Trump bashes media after lackluster August jobs report

The Hill logoPresident Trump lashed out Friday at the news media after the release of an underwhelming August jobs report, accusing journalists of stoking anxiety about a potential recession.

“The Economy is great. The only thing adding to ‘uncertainty’ is the Fake News!” Trump tweeted Friday, hours after the Bureau of Labor Statistics released an August jobs report that fell below expectations.

The U.S. economy added 130,000 jobs in August, 25,000 of which were hires for short-term positions to conduct the 2020 U.S. census. While the unemployment rate stayed steady at 3.7 percent, the August jobs gains were well below economists’ estimates of 145,000 to 160,000 new hires.

The August jobs report was the latest sign that the growth of the U.S. economy is beginning to slow after more than a decade of consistent expansion. Economists say that while the country is adding enough jobs to stave off a recession for now, a broader global slowdown poses severe risks for the U.S.

View the complete September 6 article by Sylvan Lane on The Hill website here.

Economy adds 130K jobs in August, falling below expectations

The Hill logoThe U.S. added 130,000 jobs in August, the Labor Department reported Friday, falling below expectations amid an escalating trade war with China and a slowing global economy.

The August jobs report missed expectations after economists broadly projected employment growth closer to the 164,000 workers the U.S. added in July. The unemployment rate held steady at 3.7 percent, while the labor force participation rate rose to 63.2 percent, according to the release from the U.S. Bureau of Labor Statistics.

While the U.S. economy has added jobs at a slower rate in 2019 than last year, it has remained largely resilient as European and Asian powers face sharper downturns amid rising trade tensions.

View the complete September 6 article by Sylvan Lane on The Hill website here.