Economy
August Jobs Report Weaker Than Expected
State of the Union: The White House blamed the Federal Reserve for not lowering interest rates.
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A softer than expected August jobs report roiled markets Friday.
The Bureau of Labor Statistics reported that the economy added only 22,000 jobs last month, and unemployment ticked up from 4.2 percent to 4.3 percent.
The manufacturing sector continued to show particular weakness, losing 12,000 jobs last month.
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President Donald Trump blamed Federal Reserve Chair Jerome Powell in a social media post, repeating his argument that Powell should lower the Fed’s benchmark interest rates.
Critics of the president’s economic policies blamed tariffs for raising costs and depressing economic activity.
