The US job market is showing signs of weakness as non-agricultural employment contracted in August, reaching levels not seen since late 2021. This decline coincides with a growing concern about the Federal Reserve’s potential next move regarding interest rates. The Bureau of Labor Statistics (BLS) recently released its monthly jobs report, revealing a decrease of 12,000 jobs in manufacturing and a modest 3.7% annual earnings growth that fell short of expectations. Labor force participation remained stagnant at 62.3%, while unemployment rose to 4.3%. The number of new jobs created was a mere 22,000, a far cry from previous six-figure reports, marking one of the weakest job markets in recent years.