Between tariffs and sanctions the economy is suffering with Trumponomics……..the latest jobs report is one example but there are others….
We got a much better sense of what the American labor market is doing today. And the news was not good.
The economy added only 22,000 jobs last month, far fewer than economists had predicted, according to a new release from the Bureau of Labor Statistics. The new data also shows that the economy gained slightly more jobs in July than we thought at the time, but that it actually lost 13,000 jobs in June — making that month the first since 2020 to see a true decline in U.S. employment.
The unemployment rate now stands at 4.3%, one tenth of a percent higher than it was last month. All in all, the American labor market has been frozen since President Trump declared “Liberation Day” and announced a bevy of new tariffs in April.
On the one hand, some aspects of that job loss shouldn’t be a surprise. As we’ve covered at Heatmap, the Trump administration has spent the past few months attacking the wind, solar, and electric vehicle industries. It has yanked subsidies from new electricity generation, rewritten rules on the fly, and waged an all-out regulatory war on offshore wind farms. Electricity costs are rising nationwide, constraining essentially all power-dependent industries except artificial intelligence.
https://heatmap.news/economy/jobs-report-manufacturing-trump
Remember the promise by Donny that manufacturing jobs would return top the US with his tariffs?
So far that has not been the case.
The U.S. manufacturing industry shed more workers in August despite policies from President Donald Trump’s administration aimed at bolstering the sector.
The United States lost 12,000 manufacturing jobs for the month, continuing a downward trend since its most recent peak in February 2023, according to the federal Bureau of Labor Statistics. Overall, employers added a disappointing 22,000 jobs in August, signaling a slowdown in U.S. hiring.
It will take time to see how tariffs’ impact on the manufacturing labor force plays out. So far this year, the uncertainty around the new trade policies and consumer spending has prompted some businesses to slow hirings.
“There’s no good reason for manufacturing to be hiring right now, and there are a lot of good reasons for it to be taking it easy,” said Ron Hetrick, a senior economist at labor market analytics company Lightcast.
Manufacturing job loss isn’t exclusive to the Trump administration. Jobs in the industry – which slid to 12.7 million in August, or about 8% of total nonfarm employment – have dipped dramatically since their peak in 1979 when they accounted for roughly 22% of total employment. While there were gains made after the Great Recession, jobs began trending down again in early 2023.
That downward trend has continued into 2025, with the sector losing roughly 78,000 jobs over the year through August, according to the Bureau of Labor Statistics.
I guess the kneejerk reaction to stats that Donny did not appreciate and the firing of the head of the BLS is not going to make his ‘Save America Economy’ any better.
I Read, I Write, You Know
“lego ergo scribo”