Headline RoundupAugust 30th, 2023

US Adds 177,000 Jobs in August, Fewer Than Expected

Summary from AllSides News Team

U.S. employers added just 177,000 jobs in August, fewer than expected, according to the latest ADP National Employment report.

The Details: Economists surveyed by Dow Jones had expected 200,000 jobs added, much fewer than July’s 371,000 estimate, according to CNBC (Center bias). ADP’s report specifically noted a decline in job creation by hotels and restaurants, which “fell to 30,000 in August after months of strong hiring.”

For Context: The news may be good for the Federal Reserve, which has cited strong job growth as evidence that the economy needs more interest rate hikes to slow inflation. Year-over-year consumer inflation was 3.2% in July, just 1.2 points higher than the Fed’s 2% target; August inflation numbers are scheduled for release on September 13. 

How the Media Covered It: Coverage was mostly found in business outlets and was mostly similar regardless of bias rating. However, Fox Business (Lean Right bias) framed the issue more negatively than other sources.

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