Overview

• The Labor Department reported 22,000 jobs added in August, far below the roughly 75,000 expected by a MarketWatch consensus.
• The jobless rate rose to 4.3% from 4.2% in July, reaching its highest level since autumn 2021.
• The release follows last month’s sizable downward revisions that indicated a softer labor market than initially reported.
• President Trump fired BLS chief Erika McEntarfer after alleging the figures were “cooked,” while most economists cite late survey responses rather than political manipulation to explain revisions.
• The White House plans to nominate EJ Antoni to lead the BLS pending Senate confirmation, as economists warn that a shrinking labor force—linked in part to restrictive immigration policy and tariff uncertainty—masks deeper weakness.