Great piece, by Cortes.
As wes says....Steve is a national treasure.
Biden trying to bait....don’t take the bait.
We’ll beat them in the ballot box...and, by exposing their horrid policies and what they’ve done to America and Americans, with said policies.
US job growth moderates in August with 315,000 added while unemployment edges higher
Unemployment rate unexpectedly rises to 3.7%, Labor Department says
By Megan Henney September 2, 2022 8:34am EDT
FTA
U.S. job growth moderated in August from a torrid pace the previous month, but hiring remained solid despite growing headwinds from higher interest rates, scorching-hot inflation and mounting recession fears.
Employers added 315,000 jobs in August, the Labor Department said in its monthly payroll report released Friday, in line with the 300,000 jobs forecast by Refinitiv economists. That marks the lowest monthly gain since April 2021 and is a major decline from the 526,000 jump recorded in July.
The unemployment rate, meanwhile, unexpectedly ticked up to a six-month high of 3.7% as the labor force participation rate increased.
Wages also continued to rise, but came in lower than forecasts. Average hourly earnings increased 0.3% for the month and 5.2% from the previous year, slightly below the respective 0.4% and 5.3% estimates from Refintiv.
Job gains were broad-based in August, with professional and business services leading the way in hiring, adding 68,000 new workers. That was followed by health care (48,000), retail trade (44,000) and manufacturing (22,000). Employment in financial activities climbed by 17,000.
While monthly jobs data is always important, the Federal Reserve is closely watching this particular report for signs the labor market is starting to slow down from its frenzied pace as policymakers try to wrestle inflation, which is still running near a 40-year high, back to 2%.
https://www.foxbusiness.com/economy/us-job-growth-continues-august-economy-adds-jobs