As the U.S. labor market slows, underlying trends in the data indicate that a larger share of jobs are going to foreign-born workers, while heightened uncertainty among employers is causing them to stop hiring.
According to data released last week by the Bureau of Labor Statistics (BLS), the U.S. economy added 142,000 new jobs in August, which was less than consensus estimates of 160,000. In addition to falling short of projections, BLS jobs data has been subject to revision. In August, the BLS stated that there were 818,000 fewer jobs in March than it had initially reported.
