It’s the toughest time in years to be searching for work in America.

New data last week showed a fourth month of tepid job growth and propelled joblessness to its highest level since late 2021, when the economy was still recovering from the effects of the coronavirus pandemic. Now, as companies wrestle with inflation, economic uncertainty and trade policy whiplash, many are shredding payrolls and shifting tasks to artificial intelligence while pulling in higher profits. And some executives are pointedly broadcasting sizable layoffs as wins, a sign they’re making workforces leaner and more efficient.

Hardly any corner of the economy is untouched by jobs cuts and slowdown: Employment in all goods-producing industries slumped in August, with the deepest losses coming from manufacturing and mining. The service sector was racked by steep layoffs in business and professional services and IT.

Meanwhile, job vacancies are shrinking as employers hold fire on hiring, data show. Factor in dimming consumer sentiment — which hit a three-month low in August — and conditions are ripe for labor market gridlock, said Bill Adams, chief economist for Comerica Bank in Dallas, leaving the economy “operating in low gear.”

Employers added 22,000 jobs in August, well below expectations, the Bureau of Labor Statistics reported Friday, pushing the unemployment rate up to 4.3 percent. Meanwhile, job postings fell across nearly every sector compared with a year ago, with the steepest declines recorded in child care, community and social service, scientific research, retail, and hospitality, according to the employment website Indeed. Administrative roles such as human resources and accounting also posted double-digit declines.

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