Friday, October 02, 2015

Pumpkin Pie!

Looks like the economy is stalling again. With China's economy stalling, global markets have seen a decrease in progress. China's economy is big enough to take everyone down. 

U.S. employers added only 142,000 jobs in September keeping the unemployment rate stalled at 5.1%. That release closes out the Summer. Showing that a weak jobs report will result in the usual partisan blame game.

Weak job numbers assure conservatives the talking points saying President Barack Obama's policies have the country going in the wrong direction. Weak job numbers assure liberals the talking points saying the Republican controlled Congress have the country going in the wrong direction.

Average hourly earnings up just 2.2 percent from last year.

Employers decided to halt hiring causing a ripple effect on the economy. For the last two months, wages and hiring fell raising doubts on the economy. Is it strong enough? 

With the service and manufacturing industry cutting hours and positions, many are finding it harder to obtain a better job. 
Rep. Steve Scalise (R-LA), Rep. Kevin McCarthy (R-CA) and Sen. Mitch McConnell (R-KY)
U.S. factories are feeling the global chill and shed 9,000 jobs in September after losing 18,000 in August, according to the Labor Department's survey of employers.

The recent pace of job growth should have been enough to push the unemployment rate lower because only around 100,000 new jobs are needed a month to keep up with population growth.

But the jobless rate held steady at 5.1 percent. The unemployment rate is derived from a separate survey of households that showed 350,000 workers dropping out of the labor force last month, as well as a lower level of employment.

Average hourly wages fell by a cent to $25.09 during the month and were up only 2.2 percent from the same month in 2014, pointing to marginal inflationary pressures. 

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