After ample warning signs, the decline in the American labor market has become undeniable. The latest jobs report for August highlights a significant slowdown in hiring, solidifying expectations for the Federal Reserve to implement interest rate cuts, possibly more aggressively than previously anticipated. The data reveals that the U.S. economy only added 22,000 jobs in August, a sharp decrease from the 79,000 added in July and well below the anticipated 75,000. Additionally, revisions further dampened the outlook: June's payrolls were reduced by 27,000, indicating a loss of 13,000 jobs, while July saw an upward revision of 6,000 to 79,000 jobs. These figures indicate a concerning trend in employment for the months of June and July.