Private Sector Jobs Surge as Federal Workforce Shrinks to 1960s-Era Low

Treasury Secretary Scott Bessent highlighted the growth of private sector jobs and the shrinking federal workforce in recent months. Since January 2025, over one million new private sector jobs have been created, while the federal workforce has fallen to its lowest level since the 1960s.

In a post on X, Bessent noted that more than 1.3 million additional native-born Americans are now working. The Bureau of Labor Statistics reported that total nonfarm payroll employment increased by 162,000 in August, while the unemployment rate remained at 4.1%.

Manufacturing employment saw a growth of 16,000 during the month. However, the LinkedIn Workforce Report showed that U.S. hiring rose only 1.9% from July to August and was 6.5% lower than in August 2025.