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Key takeaways:
Job growth remained sluggish: BLS reported only 22,000 jobs added in August, continuing the pattern of weak employment gains seen since April. Small gains in the private sector: ADP showed more moderate growth with 54,000 private jobs added, driven by leisure/hospitality and construction. Labor market indicators show stability with concerns: Unemployment rose slightly to 4.3%, and long-term unemployment increased significantly, but wage growth remained steady at 3.7% annually.
Nonfarm payroll added 22,000 jobs in August, according to the latest report from the Bureau of Labor Statistics (BLS). This represents continued weakness from July’s