The Nikkei’s dramatic plunge was triggered by a confluence of factors, including the looming threat of a US recession, the growing strength of the Japanese yen, and the ongoing geopolitical tensions. The market’s reaction was swift and decisive, as traders and investors reacted to these developments with a sense of anxiety and uncertainty. The decline was particularly severe in the technology sector, which is heavily reliant on US markets and has been impacted by the rising US interest rates. The Nikkei’s plunge also highlights the interconnected nature of global markets and the impact of US economic concerns on the Japanese stock market.

The labor force participation rate fell by 0.2 percentage points to 62.4 percent.”

This report highlights a concerning trend in the labor market. The unemployment rate, a key indicator of economic health, has been on an upward trajectory, suggesting a weakening economy. The increase in the number of unemployed people, coupled with the decline in labor force participation, paints a picture of a labor market struggling to find its footing. The rise in the unemployment rate is particularly concerning because it coincides with a period of high inflation.

The President’s statement came after the Bureau of Labor Statistics (BLS) released its monthly employment report for July, which showed a slowdown in job growth compared to June. The report revealed that the economy added 209,000 jobs in July, a significant drop from the 306,000 jobs added in June. This slowdown was attributed to a number of factors, including the impact of the Federal Reserve’s interest rate hikes and the ongoing war in Ukraine. The President’s reaction to the figures was met with mixed reactions from the public and political figures.