If you know anyone lookin for work, you know how scary tough it is out there despite the lying media’s Bidenomics is incredible fake news.
Jobs Market Cools Following Unexpectedly High Economic Growth
By: Will Kessler, Daily Caller, August 4, 2023:
The U.S. added 187,000 jobs in July, less than economists expected, as the unemployment rate fell to 3.5%, according to Bureau of Labor Statistics (BLS) data released Friday.
ADVERTISEMENTEconomists had anticipated the country would add 200,000 jobs in July compared to 209,000 jobs in June and that unemployment would remain the same at 3.6%, according to Reuters. The U.S. economy grew 2.4% for the year in the second quarter of 2023, outdoing expectations of 2%.
“A continued cooling of both job growth and real wage growth will weigh further on some forward-looking indicators, souring the broader economic outlook,” E.J. Antoni, research fellow at the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, told the Daily Caller News Foundation. “Additionally, labor force growth has severely lagged the pre-pandemic trend, which is artificially suppressing the unemployment rate while conversely inflating the labor force participation rate. The jobs market is not as healthy as the headline numbers are making it appear.”
The number of jobs added for the past two months were both revised down as well, with May being revised from 306,000 to 281,000 and June being revised from 209,000 to 185,000 jobs, according to the BLS.
The BLS release is in contrast to private payroll firm ADP, which released a report showing 324,000 private sector jobs were added, with leisure and hospitality driving growth while manufacturing dropped for the fifth straight month. ADP reported that 497,000 new private employee jobs were added in June, while the BLS only reported 209,000 total new jobs.ttps://dailycaller.com/2023/08/04/jobs-market-cools-high-economic-growth/?pnespid=qOBkDC9DP.9FxaDBvC.lDI_U5Qy1DoN5IfCmxrNupERmqBx9ish9FNnhh0mkeuBbAEgacsPilA
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