In August, U.S. private sector hiring saw a smaller-than-expected increase, with only 54,000 jobs added, a significant drop from the previous month. This slowdown was attributed to factors such as consumer worries, labor shortages, and AI-related disruptions, particularly impacting trade, transportation, utilities, and education/health services. The leisure and hospitality industry showed gains, but overall, the ADP report contributes to an already concerning labor market picture, further evidenced by rising jobless claims and a decline in job openings. Consequently, market observers are now more convinced that the Federal Reserve will cut rates at its upcoming meeting.
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In a move reflecting the administration’s disregard for factual reporting, President Trump fired the Bureau of Labor Statistics commissioner after the agency reported a slowdown in job growth. This decision followed Trump’s social media accusations of the commissioner manipulating jobs data. The president’s actions highlight his intolerance for unfavorable facts, particularly those concerning tariffs, mass deportations, and their impact on the economy. While a few GOP members criticized this authoritarian action, the incident underscores a broader pattern of prioritizing the president’s feelings over objective truth, which has been a hallmark of this administration.
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In his first six months in office, President Trump oversaw an economy that created significantly fewer jobs compared to the final six months of the previous administration. Federal data indicates May, June, and July may have been the worst three months for job growth since the pandemic. Trump has responded to the disappointing job numbers by demanding the firing of the head of the Bureau of Labor Statistics, accusing her of manipulating the data. His administration’s economic policies, particularly tariffs, are likely contributing to slower job growth and overall economic activity. He has also criticized the Federal Reserve chair for failing to cut interest rates.
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Recent revisions paint a bleaker picture of the labor market. The May and June job growth figures were drastically reduced, with a combined downward revision of 258,000 jobs. Over the last three months, the healthcare and social assistance industries were largely responsible for any job gains. Excluding healthcare, the job market saw significant losses across multiple sectors, including manufacturing, professional services, and retail.
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US private payrolls saw their smallest increase in over two years during May, adding only 37,000 jobs. This is significantly lower than the 110,000 jobs economists predicted and represents a considerable drop from the revised 60,000 jobs added in April. This sluggish growth signifies a worrying trend, especially considering the previous months’ figures and the general economic climate.
The weak job growth is particularly concerning given the context of broader economic uncertainty. Many believe this slow pace is not a true reflection of the overall labor market’s health but rather a symptom of deeper underlying issues. The economic headwinds are likely exacerbating pre-existing challenges within the job market, leading to this subdued growth.… Continue reading
February’s private sector job growth plummeted to 77,000, significantly lower than January’s revised 186,000 and the predicted 148,000, marking the weakest increase since July. This slowdown, coupled with concerns over rising inflation from President Trump’s tariffs and weakening consumer spending, fuels anxieties about a broader economic deceleration. While annual pay growth remained steady at 4.7%, the hiring slump suggests employers are hesitant due to prevailing economic uncertainty. This weak jobs report follows negative sentiment indicators, raising the specter of stagflation.
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California fast food workers are now earning $20 per hour, but franchise owners are responding by cutting hours. This cycle of increasing wages and reducing hours seems to be the new norm in the fast-food industry. The logic behind this response is confusing; cutting hours means there are fewer employees working, which ultimately leads to a decrease in revenue. So, are these franchisees shooting themselves in the foot?
It’s important to note that the $20 minimum wage in California only affects chain restaurants with 60 or more locations, not all fast food workers in the state. However, stories of franchisees cutting hours for their staff have been making headlines.… Continue reading
The US economy added an impressive 353,000 jobs in January, marking a strong start to 2024. As I scroll through Reddit posts, I see many people expressing frustration and uncertainty about finding employment. However, it is important to dig deeper into the sectors that are experiencing significant growth.
One key sector that is contributing to the job surge is healthcare, with approximately 33% of the added jobs in this field. As someone who works in hospice care, I can attest to the constant need for healthcare professionals. In fact, I receive job offers almost every week, highlighting the high demand in this sector.… Continue reading
John Q. Hosedrinker 
Matt Underwood