In a preliminary Bureau of Labor Statistics report, the labor market added fewer jobs than initially estimated. The Bureau overstated the hiring for the year ending in March by an estimated 911,000 jobs, but economists at Goldman Sachs believe the revision would be between 550,000 and 950,00 jobs.
The revision, which is part of a routine exercise where the government checks its monthly job numbers from a sampling of employers—compares it to complete data from state tax records. While the preliminary numbers were “weaker than expected,” a final number will be released next year, BLS said.
President Trump fired the Bureau of Labor Statistics Commissioner for “rigging data,” but economists said the slowdown is caused by “weak hiring and rising insecurity for working families,” Groundswork Collaborative reported. While unemployment rose to 4.3 percent, overall job gains were 70 percent lower than in 2024 with just 22,000 jobs added in August compared to 71,000 in August of the previous year, according to a press release.
With reported job openings at their lowest in 10 years and another month of decline in the manufacturing sector, many are blaming President Trump for “hurting the economy and harming America’s workers.”
“American workers took a huge hit in today’s devastating jobs report—more evidence that Trump’s promises to working families have fallen flat,” Alex Jacquez, chief of policy and advocacy ar Groundwork Collaborative, said. “The unemployment rate is the highest in nearly four years, the economy has lost nearly 40,000 manufacturing jobs this year alone, and millions of workers are unable to find full-time employment. Families are getting fewer chances to secure the American dream in Trump’s economy.”
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