U.S. Job Growth Falters In August as Businesses Hiring Amid Tariff Uncertainties

Barry Adams
05 Sep, 2025
New York City

Stock market indexes advanced in cautious trading on Friday, as investors awaited the nonfarm payroll report.

The S&P 500 index inched up 0.1%, and the tech-heavy Nasdaq Composite advanced 0.3%, and economists are bracing for sharp revisions to summer's payroll data. 

The U.S. economy added 22,000 net new jobs in August, according to the latest monthly report released by the U.S. Bureau of Labor Statistics. 

The jobless rate held steady, and the hourly wage advanced 3.7% from a year ago $36.53.

The change in total nonfarm payroll employment for June was revised down by 27,000, from an increase of 14,000 to a decrease of 13,000, and the change for July was revised up by 6,000, from 73,000 to 79,000.

 With these revisions, employment in June and July combined is 21,000 lower than previously reported.   

The U.S. labor market is rapidly cooling as businesses of all sizes tackle heightened levels of uncertainty caused by the Trump administration's erratic implementation of import taxes.

The Trump administration's sharp escalation of import taxes has severely disrupted the business outlook for apparel and specialty retailers, logistics services providers, residential housing developers, and farmers. 

 

U.S. Stock Movers 

Lululemon Athletica Inc. plunged 19.3% to $166.34, and the athleisure company reported a slowdown in its U.S. business. Moreover, the retailer trimmed its annual sales outlook and added that the sharp increase in U.S. import taxes will hurt its business. 

DocuSign Inc. gained 7% to $81.90, and the software company reported better-than-expected second-quarter results. 

The electronic signature software company's second-quarter adjusted earnings per share of 92 cents on $801 million surpassed market expectations. 

Broadcom Inc. advanced 4% to $340.0, and the advanced semiconductor chip maker's fiscal third-quarter earnings surpassed market expectations. 

The chipmaker reported third-quarter adjusted earnings per share of $1.69 on revenue of $15.59 billion.