I hope this number doesn’t get adjusted further down next month….
Donald Trump says we must all buckle down and suffer for his trade war fight with China and other stuff like KING sized deficits and tax cut give aways….
Note….
I have been hearing numerous stories about how companies are making surgical cuts in staffing to keep their profit numbers…
Some are making staff do double work…
Some are making cuts in office space…
Some are simply NOT doing things they used to do…
Example.’s…
Verizon has computerised some technical support function’s…
You speak to a prompt that addresses your problem without speaking to anyone…
My doctor who used toe have his own office?
Now is in a office shared by several doctors, who work for a hospital network…
How much can the economy pinch?
Oh, and Trump is working hard to try to get rid of cheap immigrant labor also….
The U.S. economy added a disappointing 130,000 in August, the Labor Department said Friday, heightening fears that President Trump’s trade war is starting to bite and the U.S. economy is hitting a rough patch.
Economists had predicted 160,000 job gains in August. Business owners say they are struggling to find people to hire, and they are growing increasingly nervous about Trump’s trade battle. The unemployment rate remained at 3.7 percent, the lowest in nearly half a century, forcing employers to search harder for new workers.
Right now, the United States is a tale of two economies: The service sector remains strong with health care and business adding a lot of jobs in August. But industries like mining and manufacturing that depend heavily on selling items overseas are struggling. Manufacturing is already in a recession, and the sector has added few jobs this year, a trend that continued in August. Mining employment fell by 6,000 jobs.
Hiring in August was also boosted heavily by the U.S. government adding 25,000 temporary workers to its payrolls for the 2020 Census.
Most companies have already scaled back spending on buildings and equipment, and there is concern that they will now cease hiring, a move that could have harmful consequences to the U.S. economy since consumer spending drives so much of the U.S. economy. When Americans are fearful of losing their jobs, they tend to halt spending.
In the past three months, job gains averaged 156,000 a month, a noticeable downgrade from last year, when job gains averaged 192,000 a month…..
image curio.ca
Nothing a White House Sharpie can’t fix!