Closing Thought–07Jun19

We hear a lot by the conservs telling America about the “booming econ0omy” and the return of jobs under Trump…..

But the figures from last month are not showing that rosy or that optimistic….

Job creation skidded to a near-halt in May in another sign that the U.S. economic momentum is slowing.

Companies added just 27,000 new positions during the month, according to a report Wednesday from payroll processing firm ADP and Moody’s Analytics that was well below Dow Jones estimates of 173,000.

The reading was the worst since around the time the economic expansion began and the jobs market bottomed in March 2010 with a loss of 113,000. Since then, the private payrolls count has increased by 21.3 million.

“Job growth is moderating,” Mark Zandi, chief economist at Moody’s Analytics, said in a statement. “Labor shortages are impeding job growth, particularly at small companies, and layoffs at brick-and-mortar retailers are hurting.”

https://www.cnbc.com/2019/06/05/job-growth-screeches-to-near-halt-in-mayprivate-payrolls-up-just-27k.html

The “economy” they speak of is the Wall St. econo0my not the Main Street economy……keep that in mind as you prepare for the search for a candidate in the 2020 election.

Since the pundits say the economy will be the main issue in the 2020 election……maybe the voter should keep a close eye on the facts not the political spin.

Learn Stuff!

Then VOTE!

8 thoughts on “Closing Thought–07Jun19

  1. We get constant reports of a ‘boom’ in jobs here. Trouble is they are mostly low-paid, no hours contract jobs, or things like Uber driving or Deliveroo deliveries. They call it the ‘Gig’ economy, as most people are paid per job only, with no decent conditions.
    Best wishes, Pete.

    1. It may mean that unemployment is low and there is a shortage of workers to fill new jobs. That would limit economic growth and expansion. That is my guess. The sentence ya very poorly worded. Out of context it is hard to tell exactly what it means.

    2. That is as confusing I agree…like the way inflation is calculated…..I wish I could help but I am no economist but I bet the GOP will say tax cuts are the answer. chuq

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