Fellas…are we cooked?

The Bureau of Labor Statistics’ August jobs report was, well, not good. Employers made few job gains, while the unemployment rate rose to its highest level in years. As the labor market slowed further this summer, experts have again sounded the alarm about an economic downturn. Let’s take a closer look.

Diving into the data. Employers added just 22,000 jobs in August, well below economists’ expectations of 75,000. Meanwhile, June job gains were revised down by 13,000, and July job gains were revised up to 79,000. The unemployment rate increased to 4.3%, the highest seen since October 2021……………..