The U.S. labor market enters a "stall moment", with job revisions likely to reach 800,000 next week

According to BlockBeats, on September 5, if the market forecast for U.S. job growth in August and the unemployment rate rose to 4.3%, it will confirm the weakness of the labor market and "a final result" for the Federal Reserve's interest rate cut this month. For now, U.S. job growth appears to have entered a "stall" state, with economists blamed U.S. President Trump's comprehensive import tariffs and immigration crackdowns that have led to a decrease in labor reserves. The weakness in the labor market mainly comes from recruitment. Economists expect non-farm employment to rise by 75,000 last month, following an increase of 73,000 in July. Earlier, employment data in May and June were down sharply by 258,000, which angered Trump last month. Trump fired Erika McEntarfer, director of the Bureau of Labor Statistics, and accused her of forging employment data. Slow job growth is likely to be confirmed when the Bureau of Labor Statistics releases its preliminary revised estimates of employment levels for the 12 months to March next Tuesday. According to existing Quarterly Employment and Wage Census (QCEW) data, economists estimate that employment levels may be downgraded by as much as 800,000. QCEW data are derived from reports submitted by employers to the state’s unemployment insurance plan. Economists estimate that the economy needs to create between 50,000 and 75,000 jobs a month to keep up with the growth of the working-age population.