The labor market is going from frozen to cracking. How long can the US economy survive with jobs only in healthcare?

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Trump admin jobs numbers just dropped: Worst since Covid!

Alarm sweeps Wall Street as jobs report shows first fall in hires since 2020 Covid lockdowns – after Trump fired stats boss

Nonfarm payrolls rose just 22,000 last month dramatically less than the 75,000 expected by Wall Street.

The shocking report, which also revised down June’s figures to a net loss of 13,000 jobs, marks another sign of an economic slowdown.

Initially, stocks plunged when the report was released at 8.30am – but minutes later spiked as traders digested the news. A weaker labor market heightens the chances of the Federal Reserve making more and bigger cuts to the benchmark interest rate.

‘US non-farm payrolls for August came in below expectations, and with job growth slowing, the Fed is likely to cut the US base interest rate when FOMC members next meet on 16-17 September,’ Daniel Casali, chief investment strategist at Evelyn Partners said following the report.

Friday’s report marks the first since President Donald Trump sensationally fired the US Bureau of Labor Statistics commissioner, Erika McEntarfer, after the release of the July jobs report. The President claimed, without evidence, that the weak numbers for the month were ‘phony.’

https://www.dailymail.co.uk/yourmoney/article-15069453/First-jobs-report-Trump-fired-stats-boss-sends-Wall-Street-wild-ride.html

Trump: “Ignore the jobs report tomorrow, the real numbers will be released in a year”

President Trump on Thursday said “real” jobs numbers will come next year, ahead of the Bureau of Labor Statistics’ (BLS) first jobs report since he fired its leader in response to dismal numbers in July.

“They come out tomorrow, but the real numbers that I’m talking about are going to be whatever it is, but will be in a year from now on,” Trump told reporters, while flanked by over two dozen top tech executives at a White House dinner.

He said that when “huge, beautiful places, the palaces of genius” open, job numbers will improve. He did not specify what projects he was referring to.

https://thehill.com/homenews/administration/5487439-trump-friday-jobs-report-real-numbers/