The US unemployment rate climbed to 4.3% in the latest report, marking its highest level since 2021 and reigniting concerns about the nation’s economic trajectory. The Labor Department’s Bureau of Labor Statistics released the data, which follows a series of weaker-than-expected indicators in manufacturing and hiring. The uptick comes amid growing anxiety over potential economic deterioration under the current administration. n nJust a few years ago, joblessness was near historic lows, but the latest figures reflect a notable reversal. The current administration faced scrutiny last month when the President dismissed the commissioner of the Bureau of Labor Statistics following a previous report that delivered similarly discouraging news. This latest release adds pressure on policymakers as they navigate challenges in labor market stability. n nThe rise in unemployment has sparked debate among economists about the effectiveness of recent fiscal and regulatory measures. While some sectors continue to show resilience, the broader trend suggests a cooling in job creation and business expansion. Market analysts are now closely watching upcoming indicators to assess whether this marks a temporary fluctuation or the beginning of a more sustained downturn. n— news from Bloomberg
— News Original —
US Unemployment Hits 4.3% as Deterioration Fear Grows
US President Donald Trump has good reason to cheer that Labor Day shortened this week by a day. That’s because the remaining four brought increasingly worse data about the economy on his watch. From manufacturing to hiring, it’s been grim tidings. And Friday’s jobs report may be the biggest hit of all. n nA few years ago unemployment hovered at half-century lows. Now the dreaded percentage is at its highest point since 2021 and the depths of the pandemic. This from the Bureau of Labor Statistics, an arm of the US Department of Labor where last month Trump fired the commissioner after a similarly sobering report.