U.S. employees added only 22,000 nonfarm jobs in August, well short of consensus forecasts of 75,000. And, with revisions to the June jobs report, employment shrank 13,000, according to U.S. Bureau of Labor Statistics. That makes June the first month of negative jobs growth since December 2020. The unemployment rate increased to 4.3%, close to a four-year high.*
- The three-month pace of both nonfarm and private payrolls growth is now at 29,000.*
- Excluding health care, nonfarm payrolls have been contracting for four consecutive months, after growing just 42,000 on average for the previous four months.*
- While the health and education services sector employment growth has been a welcome support to the US economy in 2025, it’s important to point out that the job openings rate in this sector plummeted in August to the lowest level since June 2020.*
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