Since I'm on Axios' site, I'll go with their spin on this.
The U.S. economy added 142,000 jobs in August, while the unemployment rate edged slightly lower to 4.2% from 4.3%, the Labor Department said on Friday.
Why it matters: A slowing labor market is a pivotal factor that will help the Federal Reserve determine the size of a highly anticipated interest rate cut later this month.
Axios casually side-steps the real "Why It Matters:" Economists worry that Biden has driven us off the cliff and this latest data point suggests we are closer to a deep recession.
But naaaah, it's just about something most people don't care about, a possible federal rate cut.
Note the Fed would only cut interest rates, especially in the face of uncontrolled inflation, if a recession were imminent.
Axios is pretending they don't know this.
The August figures came in below expectations of 161,000 job gains.
The new report also shows notable revisions for months past: The economy added just 89,000 jobs in July--25,000 fewer than initially thought.
June's gains were revised down by 61,000 to 118,000.
Surprise, surprise. Gee-- that's almost half of June's jobs that turned out to be Fake Economic News.
David Strom pounces, and then seizes, and then pounces again with a surprise Bonus Seize, upon the fact that over the past year, foreign workers made up 2,000,000+ of new hires, whereas native-born Americans lost 392,000 jobs.
Charles Schumer's take? Obviously we must Make America a Foreign Country Again.
Very much related: Biden admits that the dishonestly, propgandistically named "Inflation Reduction Act" was never about inflation.
He's admitting this because the "Inflation Reduction" obviously failed -- but he wants you to know, he succeeded in the real goal of the latest inflation-provoking $369 billion boondoggle:
BIDEN: My investments, through my investments, the most significant climate change law ever, and by the way, it is a $369 billion bill, it's called the, we should have named it what it was, at any rate.