US economy lost 32,000 private-sector jobs
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1don MSN
There may not be a jobs report at all this week — so economists are homing in on this data instead
In what could be the last piece of federal jobs data released this week if the government shuts down, a new report Tuesday showed that the number of available roles remains low for the year, a sign that opportunities continue to dwindle for Americans looking for work.
The Labor Department reported that job openings blipped up to 7.23 million from 7.21 million in July. U.S. job openings were essentially unchanged in August amid economic uncertainty arising from President Donald Trump’s trade policies and an impending government shutdown.
“Trump's economy lost 32,000 jobs last Month according to ADP Dow Jones had been looking for an INCREASE of 45,000. In addition to the drop in September, the August payrolls number was revised to a loss of 3,000 from an initially reported increase of 54,000,” Krassenstein wrote on X.
The government shutdown that began Wednesday will deprive policymakers and investors of economic data vital to their decision-making at a time of unusual uncertainty about the direction of the U.S. economy.
The partial government shutdown may leave the Fed without its usual snapshot of the labor market at a critical moment.
Friday's jobs report shows it's a brutal time to look for work, the US isn't in a recession, and there's a high chance the Fed cuts interest rates.
The U.S. government shutdown has thrown the brakes on the flow of federal economic data at a moment of uncertainty and division among policymakers like those at the Federal Reserve about the health of the U.
U.S. employers added nearly a million fewer workers than previously believed, according to a Labor Department report out Sept. 9.
There was a sharp spike in job cuts during August, according to new data, as employers shed staff due to a worsening economic outlook. A separate report also showed a weaker-than-expected number of new jobs added by private employers.
The U.S. job market showed more signs of weakness Friday, as the Labor Department reported just 22,000 jobs added in August. Revised figures show the economy lost jobs in June, for the first time since the pandemic winter of 2020.
The U.S. economy added 911,000 fewer jobs over the 12 months ending in March than previously estimated, the U.S. Bureau of Labor Statistics (BLS) said on Tuesday. The figure, which exceeded economists' expectations, appears to be the largest revision ever recorded. The preliminary estimate will be finalized next year.