By bizn_fun 
The number of jobs created each month has been slowing steadily since the boom that followed the reopening from the pandemic.
But analysts have said the economy only needs to create about 50,000 jobs each month to keep up with population growth – far fewer than it once did – as Trump’s crackdown on immigration prompts the stream of new workers that entered the US in recent years to dry up.
Stock markets opened slightly higher following the report, which also showed average hourly pay rising 3.7% over the past year.
In the global bond markets, the rates that investors demand for borrowing dropped sharply, reversing a surge earlier in the week, as confidence grew in a Fed rate cut.
“The initial reaction suggests markets are focused on Fed rate cuts rather than concerns about a cooling economy,” said Ellen Zentner, chief economic Strategist for Morgan Stanley Wealth Management.
“Bad news looks like good news, at least this morning.”
Speaking to broadcaster CNBC, White House economic adviser Kevin Hasset conceded that the August jobs numbers were “disappointing” but said he expected revisions in future months would present a better picture.
Other White House officials pinned the blame on the Federal Reserve and its chairman, Jerome Powell, saying the bank had been too slow to lower interest rates.
“President Trump is implementing the most aggressive pro-growth agenda in our country’s history, but this agenda continues to be held back by Jerome ‘Too Late’ Powell’s foolish refusal to admit that President Trump is right about everything,” White House press secretary Karoline Leavitt said in a statement.
Earlier this week, the government reported that job openings had fallen to the lowest level since 2024, while job seekers outnumbered the posts for the first time since the pandemic.
Claims for unemployment payments also ticked up this week, while Friday’s report put the unemployment rate at the highest level since October 2021, although it is still not far from historic lows.