USA Jobs Shock - Joe Blogs

[TexasTowelie]

The U.S. economy has just delivered a shock payroll report. Only 22,000 jobs were added in August, compared to forecasts of 75,000, while unemployment ticked up to 4.3%. Wages grew modestly at 3.7% year-on-year, but revisions show even fewer jobs than previously reported.

At the same time, President Trump has fired the head of the Bureau of Labor Statistics (BLS), sparking fresh controversy about the independence of official U.S. economic data.

In this video, I explain:

The latest jobs numbers and how they compare with forecasts
Which sectors are gaining and which are in decline
What the weak payrolls mean for the Federal Reserve and interest rates
Why Trump’s attack on the BLS is shaking confidence in U.S. statistics

Chapters:
0:00 Intro
0:40 PAYROLL DATA
2:35 UNEMPLOYMENT & REVISIONS
4:31 USA ECONOMY
6:23 INTEREST RATES
9:48 BIG PICTURE
12:00 SUMMARY & CONCLUSION

[progree]

1. And the previous 2 months were revised down by a combined 21,000, so we ended up with only 1,000 more jobs

than were reported in last month's report, released August 1.

22,000 - 21,000 = +1,000 net new payroll jobs reported.

The August 1 report's total nonfarm payroll employment: 159,539k
. . . https://www.bls.gov/news.release/archives/empsit_08012025.htm -- Table B-1

This (September 5 report's) total nonfarm payroll employment: 159,540k -- a 1k increase
. . . This month's: https://www.bls.gov/news.release/archives/empsit_09052025.htm or https://www.bls.gov/news.release/empsit.t17.htm or https://data.bls.gov/timeseries/CES0000000001

==================================================
Yesterday's LBN thread on the jobs report:
https://www.democraticunderground.com/10143524396

==================================================
In the last 4 months, only an average of 27,000 jobs/month were added
https://www.democraticunderground.com/?com=view_post&forum=1014&pid=3524426

[OrlandoDem2]

2. Headed for recession if not already in one.