(The Hill) -- The U.S. economy added a paltry 22,000 jobs in August, adding to concerns about the health of the economy while increasing the chances of interest rate cuts by the Federal Reserve.

The unemployment rate ticked up to 4.3 percent, rising for the second month in a row, while the labor force participation rate increased after falling since April.

The data from the Labor Department followed a similarly dismal jobs report for July that showed an average of just 35,000 jobs added to the economy from May to July. The August report brings the three-month average down to 29,000 jobs.

Here are five takeaways on the new report.

Economy lost jobs for the first time since 2020

The latest jobs report includes further revisions to previous months, including an estimate that the economy

See Full Page