The number of employees outside the agricultural sector increased by only 22,000 jobs last month, after the revised increase of 79,000 in July, said the Office of the Ministry of Labor Statistics in its employment reports, writes Reuters.
Economists discussed by Reuters forecast employment growth of 75,000 after a previously registered increase of 73,000 in July.
Initial reports for August usually show weaker results, with later audits that often bring better figures. The estimates moved from zero new jobs up to 144,000. This report comes after that this week was published that in July the first time from Pandemic Code-19 Number of unemployed has exceeded the number of jobs available.
Employment growth practically paused, and economists cited the President Donald Trump and the tightening of the immigration policy that reduced the available labor force as the main reasons, which was introduced. The weakening of the labor market comes mainly on the side of employment.
Trump customs, which raised the average customs rates of the country to the highest level since 1934. years, they caused fears of inflation and stated the American Central Bank to pause the ratification of interest rates. Precisely when part of the uncertainty about trade policy began to yield, because most customs have already been introduced, the American Court of Appeals ruled last Friday that many of these customs are illegal.
The unemployment rate rose from 4.2 percent in July. Last month, Trump lay off the BLS director Erik Mcenterfer, accusing her, without evidence, falsified employment data. This followed the significant negative audits of the employment data for May and June.
However, economists stopped in defending McAnterfer and Audit, they attributed the so-called “The model of birth and dying”, the method that the BLS estimates how many jobs were obtained or lost due to opening or closing companies in the given month.
(Vijesti.ba / Fena)
