Overview

• Nonfarm payrolls increased by 22,000 in August versus roughly 75,000 expected, and the unemployment rate climbed to 4.3%, the highest since late 2021.
• Revisions showed June lost 13,000 jobs, the first monthly contraction since December 2020, while July was revised up to 79,000.
• Through the first eight months of 2025, the economy has added 598,000 jobs, the weakest year‑to‑date total since 2009 excluding 2020.
• Health care added 31,000 jobs in August, while federal employment fell by 15,000 and manufacturing declined by 12,000, with factories also affected by strikes.
• Treasury yields fell to about 4.08% on the 10‑year and 3.47% on the 2‑year as investors increased bets on a September Fed cut, and the first report since President Trump removed BLS chief Erika McEntarfer drew a White House expression of disappointment with an adviser predicting possible upward revisions of around 70,000 jobs.