{"id":3385,"date":"2025-09-08T19:58:08","date_gmt":"2025-09-08T19:58:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/3385\/"},"modified":"2025-09-08T19:58:08","modified_gmt":"2025-09-08T19:58:08","slug":"revisions-and-rising-unemployment-what-to-know-about-the-us-jobs-report-us-unemployment-and-employment-data","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/3385\/","title":{"rendered":"Revisions and rising unemployment: what to know about the US jobs report | US unemployment and employment data"},"content":{"rendered":"

A closely watched report<\/a> on US jobs released on Friday gave signs of a cooling labor market.<\/p>\n

The economy added just 22,000 new jobs in August, coming in below expectations, while the unemployment rate ticked slightly up to 4.3%, according to the Bureau of Labor Statistics. At the beginning of the year, more than 100,000 jobs were being added each month.<\/p>\n

Amid Donald Trump\u2019s trade wars, tariffs have now been put on most foreign goods and prices have started going up. Uncertainty seems to have spooked businesses and this combination of a slowing jobs market and higher inflation paints a murky picture of the US economy.<\/p>\n

Here\u2019s what we learned with Friday\u2019s report:<\/p>\n

Negative job numbers for the first time since 2020<\/p>\n

Friday\u2019s job report included revisions to initial reports for June and July. The pace of hiring in June was initially reported as 139,000 jobs added to the economy, but revisions now put the actual figure at -13,000. This is the first time the labor market lost jobs since December 2020, during the massive unemployment seen during the pandemic. July\u2019s numbers were revised up by 6,000, from 73,000 to 79,000.<\/p>\n

Revisions, a standard part of the Bureau of Labor Statistics\u2019 data collection, became a marked point of tension between the bureau and the White House after the bureau dramatically revised numbers in last month\u2019s report.<\/p>\n

Initial figures overestimated the number of jobs in May and June by 258,000, which the bureau said was the result of receiving additional reports \u2013 the bureau collects its data by surveying employers \u2013 from businesses and government agencies. With the new revisions released on Friday, total revisions covering May, June and July revised figures down by a combined 279,000 for those three months.<\/p>\n

Last month, Trump fired<\/a> the bureau\u2019s commissioner, Erika McEntarfer, after the revision, saying the numbers were \u201crigged\u201d to make him and Republicans look bad. But economists point out that the bureau is made up of career statisticians, many of whom have been with the bureau for many years.<\/p>\n

Job losses were seen in federal employment and manufacturing<\/p>\n

The impacts of the \u201cdepartment of government efficiency\u201d are still being felt even though Elon Musk has largely stepped away from his role in Trump\u2019s White House. In August, federal employment went down another 15,000 jobs, bringing the total number of federal job cuts to 97,000 since January.<\/p>\n

Manufacturing jobs have also taken a hit this year, down 12,000 jobs in August and 78,000 over the last year.<\/p>\n

Job growths were seen in healthcare and social assistance industries, which saw increases of 31,000 and 16,000 jobs, respectively.<\/p>\n

Unemployment among Black Americans has jumped<\/p>\n

In August, the unemployment rate for Black Americans jumped 0.3% over the last month to 7.5% \u2013 over double the unemployment rate for white and Asian Americans, which are just over 3.5%. The unemployment rate for Hispanic Americans was also higher, at 5.3%.<\/p>\n

Though the overall unemployment rate went up just 0.1% over the last year, the Black unemployment rate jumped 1.4%. The unemployment rate for white and Asian Americans actually went down slightly compared with last year.<\/p>\n

It\u2019s been a longtime trend that Black Americans are the \u201clast hired, first fired\u201d in an economic downturn, meaning they are the first to feel the impacts of a downturn and the last to recover from one. This was seen during the Great Recession, in which unemployment hit Black and Hispanic Americans disproportionately<\/a>.<\/p>\n

Federal Reserve will probably cut interest rates in September<\/p>\n

Fed officials have been signaling that a rate cut could come at the Fed\u2019s next board meeting on 16 and 17 September, though it probably won\u2019t be a drastic cut. Investors seem to have found hope in last month\u2019s Jackson Hole speech<\/a> by the Fed chair, Jerome Powell, in which he implied that officials would probably ease interest rates amid concern about the labor market.<\/p>\n

But the Fed cutting rates doesn\u2019t mean it sees stability in the economy. Fed officials, including Powell, have raised concerns about higher prices due to Trump\u2019s tariffs. It remains unclear if inflation will keep going up, or if there will be a one-time price increase from the tariffs.<\/p>\n

Powell noted that officials, for now, were more concerned about the labor market, which August\u2019s report confirmed has been experiencing turbulence this summer.<\/p>\n

White House urges Americans to trust Trump\u2019s plan<\/p>\n

On Thursday, before Friday\u2019s jobs report release, Trump said<\/a> that \u201cthe real numbers\u201d will be reported next year.<\/p>\n

\u201cThe real numbers that I\u2019m talking about are going to be whatever it is, but will be in a year from now,\u201d he said. \u201cYou\u2019re going to see job numbers like our country has never seen.\u201d<\/p>\n

When asked about the hiring slump, the national economic council director, Kevin Hassett, told CNBC<\/a> on Friday that \u201cyou are seeing that people are being hired\u201d.<\/p>\n

\u201cMembers of my family have been hired,\u201d he said. \u201cBoth of them started their new jobs about a week ago.\u201d<\/p>\n

Hassett called the jobs report \u201cdisappointing\u201d but said that the numbers will eventually go back up.<\/p>\n

In a separate interview on Friday, the US commerce secretary, Howard Lutnick, told CNBC that the jobs reports will be better once the administration makes changes to the Bureau of Labor Statistics.<\/p>\n

\u201cYou\u2019ll take out the people who are just trying to create noise against the president,\u201d Lutnick said. He added that Americans will see \u201cthe greatest growth economy \u2026 starting six months from today to a year from today\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"A closely watched report on US jobs released on Friday gave signs of a cooling labor market. The…\n","protected":false},"author":2,"featured_media":3386,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[114,85,46,265],"class_list":{"0":"post-3385","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jobs","8":"tag-business","9":"tag-il","10":"tag-israel","11":"tag-jobs"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/3385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=3385"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/3385\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/3386"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=3385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=3385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=3385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}