‘A Big, Big Miss’: August Jobs Report Records Slowest Growth Since Biden Took Office

The U.S. economy floundered last month as job growth fell sharply and missed economists’ expectations by nearly half-a-million new jobs.

The economy added 235,000 jobs in August, far below economists’ predictions of 720,000 and a sharp drop in job growth from the previous two months when the economy added 962,000 jobs in June and another 1.1 million in July, according to Department of Labor data released Friday.

“That is what one would call a big, big miss,” CNN White House correspondent Phil Mattingly noted.

August Jobs Report:
+ 235,000 (economist forecasts: 725,000)

That is what one would call a big, big miss.

Unemployment rate: 5.2%

— Phil Mattingly (@Phil_Mattingly) September 3, 2021