(5 Sep 2025)
RESTRICTION SUMMARY:
++SHOTS SEPARATED BY WHITE FLASHES++
++EDIT BEGINS AND ENDS ON SOUNDBITE++
ASSOCIATED PRESS
Potomac, Maryland – 5 September 2025
1. SOUNDBITE (English) Mark Hamrick, Senior Economic Analyst, Bankrate:
"As we dive into the August employment report, the recent narrative of a no hire, no fire job marker remains very much intact. We had only 22,000 jobs added on the month. That was below what was really kind of a mediocre consensus call of about 80,000 to be added. We didn’t hit that mark."
++WHITE FLASH++
2. SOUNDBITE (English) Mark Hamrick, Senior Economic Analyst, Bankrate:
"We had more people looking for work. That sends the unemployment rate up to 4.3%, the highest in several years. We also know that June includes now a contraction in hiring. That’s the first time we’ve seen that since late 2020."
++WHITE FLASH++
3. SOUNDBITE (English) Mark Hamrick, Senior Economic Analyst, Bankrate:
"Mostly we saw jobs added in healthcare, social assistance, leisure and hospitality and the so-called goods producing sector, which is a priority for the administration including manufacturing. That’s really a no show in hiring. So this is a very lackluster employment situation."
++WHITE FLASH++
4. SOUNDBITE (English) Mark Hamrick, Senior Economic Analyst, Bankrate:
"Recently, growth has been below par, but still has continued in the U.S. The unemployment rate is hardly at crisis levels at 4.3 percent, but the risk is with this fall-off in hiring since April that we do see a deterioration in the job market and that could also lead to a more pronounced increase in the unemployment rate."
++WHITE FLASH++
5. SOUNDBITE (English) Mark Hamrick, Senior Economic Analyst, Bankrate:
"This is a no-fire, no-hire job market, and it’s one where recently consumers and, let’s say, workers have been enunciating their falling confidence in the economy broadly, and the job market is part of that. And so if you’re thinking about your own job security, if you are thinking about looking for work, this is a situation that doesn’t give you any added confidence and might serve to undermine that."
++EDIT ENDS ON SOUNDBITE++
STORYLINE:
U.S. employers added just 22,000 jobs last month as the labor market continued to cool under uncertainty over President Donald Trump’s economic policies.
The Labor Department said Friday that hiring decelerated from 79,000 in July. The unemployment rate ticked up to 4.3%, also worse than expected and the highest level since 2021, the Labor Department reported Friday.
When the department put out a disappointing jobs report a month ago, an enraged President Donald Trump responded by firing the economist in charge of compiling the numbers and nominating a loyalist to replace her.
Talking to reporters Thursday night at a dinner with wealthy tech executives, Trump had seemed to shrug off whatever hiring numbers would come out Friday. “The real numbers that I’m talking about are going to be whatever it is, but will be in a year from now,’’ the president said.
The U.S. job market has lost momentum this year, partly because of the lingering effects of 11 interest rate hikes by the inflation fighters at the Federal Reserve in 2022 and 2023 and partly because President Donald Trump’s policies, including his trade wars, have created uncertainty that leaves managers reluctant to make hiring decisions.
So far in 2025, the economy has generated 85,000 new jobs a month, down from 168,000 last year and an average 400,000 a month during the hiring boom of 2021-2023 as the United States roared back from COVID-19 lockdowns.
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