SEPTEMBER 8, 2025 – – JOBS NUMBERS WEAKEN
The Department of Labor released August job numbers on Friday. The data has likely given the Fed the push to cut rates next week. The US economy added only 22,000 jobs in August, below expectations for 75,000 new positions. The unemployment rate rose by 0.1 percent to 4.3 percent.
The Department revised its numbers for the summer months, which showed the economy lost 22,000 jobs in June instead of a gain of 14,000. It was the first reporting of job losses since December 2020. July’s data was revised up by 6,000 to a final gain of 79,000 jobs. The US has added 598,000 jobs in 2025 to date, that is the fewest for the first eight months of the year since 2009 (covid notwithstanding) during the financial crisis.
The market is essentially certain rates will come down by a quarter-point at the Fed’s meeting on September 16-17; there is a 12 percent chance rates could come down half a percent. The cut, if it happens, will be the first since December 2024.