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flag U.S. job growth slowed in August, unemployment rose to 4.3%, and labor market weakness emerged amid workforce reductions from immigration enforcement.

flag U.S. job growth slowed in August with only 22,000 jobs added and the unemployment rate rising to 4.3%, the highest since 2021. flag Treasury Secretary Scott Bessent attributed part of the slowdown to immigration enforcement, including deportations and voluntary departures, which he said removed about two million people from the workforce. flag While Americans continue to find jobs, private reports indicate weakening labor market conditions, including a 32,000 job loss in September per ADP and stagnant hiring in the Federal Reserve’s Beige Book. flag Labor shortages persist in sectors like hospitality and construction, though overall employment remains stable with signs of reduced spending and increased layoffs due to weaker demand and AI investment. flag The Bureau of Labor Statistics has not released data due to the ongoing government shutdown.

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