August jobs report sorely misses forecasts — bolstering interest rate cut hopes

1. August jobs growth was only 22,000, significantly below expectations. 2. Year-to-date job additions total 619,000, down from 1.1 million last year. 3. Federal Reserve may consider interest rate cuts to stimulate economic growth. 4. Concerns about labor market overshadow inflation, according to Fed Chairman Powell. 5. New leadership at the Bureau of Labor Statistics may impact future data.