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flag U.S. jobless claims rose to 263,000 in late August, the highest in nearly four years, signaling a cooling labor market.

flag U.S. jobless claims rose to 263,000 in late August, the highest in nearly four years, signaling a cooling labor market. flag Job growth slowed sharply, with only 22,000 new jobs added in August—far below forecasts—and major downward revisions reducing total job gains by nearly 911,000 since March 2024. flag Job openings fell below the number of unemployed for the first time since 2021, and unemployment rose to a four-year high. flag Manufacturing and retail saw significant losses, while hiring in health care provided limited relief. flag Analysts cite trade policies, tariffs, and immigration restrictions as contributing factors, and rising long-term unemployment has increased pressure on the Federal Reserve, which cut its discount rate in response to weakening economic momentum.

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