(NewsNation) — The United States labor market appears to be in a cooling-down period right now, adding fewer jobs than expected last month, a majority of which impacts blue-collar workers.
Employers added 22,000 jobs in August, according to the Bureau of Labor Statistics’ latest jobs report, down from 79,000 in July, most impacting blue-collar industries.
The manufacturing industry lost 12,000 jobs in August, the fourth straight month of decline. Right now, there are 78,000 fewer workers in this field compared to last year, a decline mirrored in other industries like construction and wholesale trade.
The global trade war has been contributing to uncertainty for employers, creating more unease for companies and their employees, though President Donald Trump has said his tariffs are meant to encourage U.S. companies to start producing and manufacturing domestically.
US added 22K jobs in August as unemployment rate hits 4.3%
Breaking down the job market by age, the youngest generation entering the workforce is having the most difficult time finding work.
Recent graduates with a degree were facing 4.8% unemployment, significantly higher than the average for all individuals at 4.3%. The rate for young workers without a degree is even higher at 7.4%.
White-collar workers are also feeling the slow growth, but for a different reason.
Artificial intelligence has started to replace some jobs, given its efficiency in productivity and reduced labor costs.
On a positive note, the World Economic Forum found that macro trends, like AI, are expected to create 170 million jobs over this decade, compared to the 92 million jobs expected to be lost.
