The Bureau of Labor Statistics (BLS) reported that the U.S. added 22,000 jobs in August, well below expectations for 75,000. Employment data for June was revised to show a net loss for that month, the BLS said, though July’s figures were revised slightly higher.

Taken together, the U.S. has added 598,000 jobs so far this year, compared with 1,144,000 for the first eight months of 2024. The BLS said Friday that the unemployment rate ticked higher to 4.3%, a level not seen since Sept. 2017 outside of the Covid-19 pandemic. More than one-quarter of all unemployed workers have now gone without a job for more than six months, the highest level since June 2016.