US economy adds fewest jobs since early 2020
The US job market just had a rough August 2025—only 22,000 new jobs were added, and unemployment ticked up to 4.3%.
For the first time since the pandemic days of 2020, June's numbers even showed more jobs lost than gained.
Overall, job growth has dropped sharply—down 75% from last year.
More people looking for work than open positions
Industries like manufacturing, construction, and oil drilling are cutting jobs even as the Trump administration is trying to promote them.
Healthcare added some roles, but big federal workforce cuts (97,000 since January) partially offset those gains.
Now there are actually more people looking for work than there are open positions—a first in over four years.
This shift is among the signs of weakness that could influence the Federal Reserve's next move on interest rates.