WASHINGTON (AP) — The American job market, a pillar of U.S. economic strength since the pandemic, is crumbling under the weight of President Donald Trump’s erratic economic policies.
Uncertain about where things are headed, companies have grown increasingly reluctant to hire, leaving agonized jobseekers unable to find work and weighing on consumers who account for 70% of all U.S. economic activity. Their spending has been the engine behind the world’s biggest economy since the COVID-19 disruptions of 2020.
The Labor Department reported Friday that U.S. employers — companies, government agencies and nonprofits — added just 22,000 jobs last month, down from 79,000 in July and well below the 80,000 that economists had expected.
The unemployment rate ticked up to 4.3% last month, also worse