'President Trump's erratic behavior and reckless economic policies are causing uncertainty and angst for the American worker. Wage growth is flat. Manufacturing is in decline. And job growth continues to slow,' wrote Democratic National Committee Chair Tom Perez.
The U.S. added just 130,000 jobs in August, falling short of economists expectations and stoking more fears of an impending recession.
Economists and financial analysts have worried publicly about the possibility of a forthcoming economic downturn, particularly since the yield curve inverted last month, and a steady decline in job growth doesn't do much to alleviate their fears. The jobs report last month was also largely bolstered by hiring for U.S. census workers, the federal government hired 25,000 temporary workers to prepare for the Census next August.
Other economists were also cautious."If we weren't already talking about recession risk and already looking for signs of a slowdown, we wouldn't start today because of this jobs report," said Scott Clemons, chief investment strategist at Brown Brothers Harriman, told CNBC. The Dow Industrial Average also rose about 100 points after the report, signaling that investors were letting the news roll off of their backs.
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