Wall Street took hits on the market after hiring slumped in August. The economy added 22,000 jobs, far below expectations, fueling fresh concerns about a slowdown.

The US economy added 22,000 jobs in August, a figure well below expectations and indicative of a broader economic slowdown. Unemployment rose to 4.3%, marking the highest rate in four years, while revisions to previous months' data showed a rare monthly job loss. President Trump has called for patience, suggesting it could take up to a year for improvement, and has criticized the Federal Reserve for not lowering interest rates sooner. The central bank faces renewed pressure to act, as public sentiment remains cautious, with a majority of Americans describing the economy as uncertain or struggling. The president has also confirmed he has a shortlist of potential replacements for the Federal Reserve Chair, though no immediate changes are planned.

Trump hits the links amid economic slowdown concerns

To the latest jobs report, Wall Street took hits on the market after a hiring slump in August. The economy added 22,000 jobs, far below expectations, fueling fresh concerns about a slowdown. CBS's Nicole Killian is at the White House with the fallout. Nicole. Hey, good evening, Jerika. President Trump and the White House are urging patience, although the president has cautioned it could take up to a year until the numbers improve. President Trump hit the golf course on a steamy September Saturday as the August jobs report showed signs of the economy cooling down. We're gonna have tremendous job growth. 22,000 jobs were added last month while unemployment ticked up to 4.3%, the highest level in four years. And revisions to the June numbers showed a reduction of 13,000 jobs, the first monthly loss since the pandemic in 2020. They'll say you're losing jobs, and then they'll say, by the way, we have a correction a month later. This month's report is the first since the president fired the Bureau of Labor Statistics commissioner. On Friday, the president appeared to heap blame on the Federal Reserve Chair. Jerome, too late, pal, should have lowered rates long ago. As usual, he's too late. We have the interest rates are too high. The central bank meets later this month under renewed pressure to act. There are labor market conditions that are deteriorating month by month, and that will probably encourage them to cut interest rates. A CBS News poll shows 36% of Americans surveyed think the economy is good, while a majority describe it as uncertain and struggling. I pray the Lord my soul to keep. Aubrey Carter is a veteran and mother in Atlanta. Despite serving my country, despite being a veteran, the job market has still shown no mercy. So, Nicole, does the Fed Chair, Jerome Powell, have anything to do with this jobs report, and is the president at all moving to replace him? Well, the Fed is an independent agency that controls monetary policy, but the president did confirm to reporters Friday that he has a short list of potential replacements, although it's unclear if he'll make any moves since Powell's term is due to expire early next year. Jerica? All right, Nicole Killian, thank you so much.

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London

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Chicago

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Caracas

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Tel Aviv-Yafo

Middle East Conflict

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Washington

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Beijing

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Savannah

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Jerusalem

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Kabul

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Paris

Ukraine Invasion

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Cambridge

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Kunar

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Lisbon

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Los Angeles

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Breakdown