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.*
*Source: Bloomberg.
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