"US Job Growth Collapses To Just 22K, Unemployment Rate Rises To 4.3% Putting 50bps Rate Cut In Play"

 From ZeroHedge, September 5:

Ahead of today's jobs report, consensus was that a print between 40K and 100K is largely priced in and greenlighting a 25bps rate cut by the Fed in two weeks, and that we would need a real outlier number for the Fed to either cut 50bps... or not hike. Well, we got a real outlier when moments ago the BLS reported that in August the US added only 22K jobs, a big drop from the upward revised 79K (from 73K previously) but more importantly June was revised from 27K to -13K, ushering in the first negative jobs print since 2020.

With these revisions, employment in June and July combined is 21,000 lower than previously reported, continuing to trend of negative revisions into a labor market slowdown.

The revisions pushed the 3-month average jobs print to just 29K, which however was a tiny improvement from the 28K in July.

Just as importantly, the payrolls number came in far below Wall Street estimates of a 75K print. In fact, it was higher than just one of the 80 estimates provided to Bloomberg.

The household survey was not quite so bad, and in fact the number of employed workers rose by 288K to 163.394MM, the biggest increase since April....

....MUCH MORE

Here's the whole package at the BLS:

Employment Situation

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Table of Contents

Employment Situation Summary

Employment Situation Summary Table A. Household data, seasonally adjusted

Employment Situation Summary Table B. Establishment data, seasonally adjusted

Employment Situation Frequently Asked Questions

Employment Situation Technical Note

Table A-1. Employment status of the civilian population by sex and age

Table A-2. Employment status of the civilian population by race, sex, and age

Table A-3. Employment status of the Hispanic or Latino population by sex and age

Table A-4. Employment status of the civilian population 25 years and over by educational attainment

Table A-5. Employment status of the civilian population 18 years and over by veteran status, period of service, and sex, not seasonally adjusted

Table A-6. Employment status of the civilian population by sex, age, and disability status, not seasonally adjusted

Table A-7. Employment status of the civilian population by nativity and sex, not seasonally adjusted

Table A-8. Employed people by class of worker and part-time status

Table A-9. Selected employment indicators

Table A-10. Selected unemployment indicators, seasonally adjusted

Table A-11. Unemployed people by reason for unemployment

Table A-12. Unemployed people by duration of unemployment

Table A-13. Employed and unemployed people by occupation, not seasonally adjusted

Table A-14. Unemployed people by industry and class of worker, not seasonally adjusted

Table A-15. Alternative measures of labor underutilization

Table A-16. People not in the labor force and multiple jobholders by sex, not seasonally adjusted

Table B-1. Employees on nonfarm payrolls by industry sector and selected industry detail

Table B-2. Average weekly hours and overtime of all employees on private nonfarm payrolls by industry sector, seasonally adjusted

Table B-3. Average hourly and weekly earnings of all employees on private nonfarm payrolls by industry sector, seasonally adjusted

Table B-4. Indexes of aggregate weekly hours and payrolls for all employees on private nonfarm payrolls by industry sector, seasonally adjusted

Table B-5. Employment of women on nonfarm payrolls by industry sector, seasonally adjusted

Table B-6. Employment of production and nonsupervisory employees on private nonfarm payrolls by industry sector, seasonally adjusted(1)

Table B-7. Average weekly hours and overtime of production and nonsupervisory employees on private nonfarm payrolls by industry sector, seasonally adjusted(1)

Table B-8. Average hourly and weekly earnings of production and nonsupervisory employees on private nonfarm payrolls by industry sector, seasonally adjusted(1)

Table B-9. Indexes of aggregate weekly hours and payrolls for production and nonsupervisory employees on private nonfarm payrolls by industry sector, seasonally adjusted(1)

Access to historical data for the "A" tables of the Employment Situation News Release

Access to historical data for the "B" tables of the Employment Situation News Release

HTML version of the entire news release

The PDF version of the news release

News release charts

Supplemental Files Table of Contents

Last Modified Date: September 05, 2025