US economy added just 22,000 jobs in August, unemployment rises to highest level in nearly four years
From CNN's Alicia Wallace
Job growth slowed to a crawl in August, and the unemployment rate rose to its highest level in nearly four years, indicating the US labor market is growing stagnant.
The economy added just 22,000 jobs last month and the unemployment rate rose to 4.3% from 4.2%, according to the Bureau of Labor Statistics.
Warning signs have been flashing for months that the job market has been losing steam. That became starkly clearer in July, when weak job growth and larger-than-typical downward revisions spurred the unprecedented firing of BLS Commissioner Erika McEntarfer by President Donald Trump who claimed, without evidence, that the disappointing data must have been “rigged.”
Economists were expecting that the economy added 76,500 jobs last month and that the unemployment rate rose to 4.3%, according to FactSet.
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