US economy adds 22,000 jobs in August

The US economy added just 22,000 jobs in August, falling short of expectations in the economy. The jobs market has shown little change since April, with the unemployment rate still hovering at around 4.3 percent.

The Bureau of Labor Statistics stated in its monthly report, "Total nonfarm payroll employment changed little in August (+22,000) and has shown little change since April, the US Bureau of Labor Statistics (BLS) reported today. The unemployment rate, at 4.3 percent, also changed little in August. A job gain in health care was partially offset by losses in federal government and in mining, quarrying, and oil and gas extraction."

Part of the job increase was offset by job loss in the federal government, which lost 15,000 jobs in that sector. The private sectors that saw the most job growth included healthcare at 31,000 jobs added and social assistance at 16,000 jobs added.

"Employment showed little change over the month in other major industries, including construction, retail trade, transportation and warehousing, information, financial activities, professional and business services, leisure and hospitality, and other services," the BLS added in the release.

Manufacturing jobs lost 12,000 in August after there has been a decline of 78,000 year over year. However, in terms of wages, the average payroll wage for all private nonfarm payroll employees increased by "10 cents or 0.3 percent, to $36.53 in August." Over the last year, hourly earnings have increased by 3.7 percent. The increase was greater in non-supervisory employee roles, with an increase of 12 cents on average in August.

The lower job numbers come at a time when Trump has been pressuring Federal Reserve Chair Jerome Powell to decrease the interest rates. A rate cut could spur more investment and possibly greater job numbers.