The US Economy added about 114,000 jobs last month, a number way below expectations. On Friday, the Bureau of Labor Statistics issued it’s latest jobs report, which included an unexpected increase in the Unemployment Rate at 4.3%.
That’s the highest rate since October 2021 and triggered a 900 point loss on the DOW in mid-day trading, reviving fears of a possible recession. The tech heavy NASDAQ exchange dropped 3%, which puts it into correction territory.
Economists were expecting Employers to have added 175,000 jobs and for the Unemployment Rate to stay at 4.1%.
The unexpectedly weak jobs report has some Market Experts concerned that the Economy has slowed down too quickly, erasing hopes for a soft landing.
