|More Americans are working but the trade war destroyed most of the good news.|
Reuters report that U.S. job growth increased more than expected in June as manufacturers stepped up hiring, but steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases.
Nonfarm payrolls rose by 213,000 jobs last month, the Labor Department said on Friday. Data for April and May was revised to show 37,000 more jobs created than previously reported. The economy needs to create roughly 120,000 jobs per month to keep up with growth in the working-age population.
The unemployment rate rose to 4.0 percent from an 18-year low of 3.8 percent in June as more people entered the labor force in a sign of confidence in the jobs market. That was the first increase in the jobless rate in 10 months.
The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, rose to 62.9 percent last month from 62.7 percent in May. It had declined for three straight months.
Trump has imposed tariffs on a range of imported goods, including steel and aluminum, to protect domestic industries from what he says is unfair competition from foreign manufacturers.
Major trade partners, including China, Canada, Mexico and the European Union, have retaliated with their own tariffs. The U.S. and China slapped tit-for-tat duties on $34 billion worth of the other’s imports on Friday.
Economists have warned the tit-for-tat import tariffs could disrupt the supply chain, undermine business investment and raise prices for consumers, and wipe out the stimulus from a $1.5 trillion tax cut package that came into effect in January.
They expect the manufacturing sector to bear the brunt of the trade fights, through a slowdown in hiring and capital expenditure. But for now the sector, which accounts for about 12 percent of the U.S. economy, appears in good health.
Manufacturers hired 36,000 workers in June, the most in six months, adding to the 19,000 jobs created in May. The factory jobs were concentrated in the automobile sector, which had seen a decline in employment in May after a fire at a parts supplier disrupted production.
Construction payrolls rose by 13,000 last month after rising by 29,000 jobs in May. There were increases in professional and business services employment as well as leisure and hospitality. But retailers cut 21,600 jobs last month, after boosting payrolls by 25,100 in May.
Government payrolls increased by 11,000 jobs in June. That followed an increase of 5,000 jobs in May.
Of course, we want you to know that in a country of 329 million Americans, most people are overworked. We are paying more for healthcare, gas, food, rent, energy, and water. While Trump and his minions continue to rollback regulations and impose sanctions on countries.
With immigrants fearing to work in the United States, many of our allies are pulling investments and travel plans. Trump has already cause such great damage within his first term.
He wants the unemployed, the disabled and the mentally ill to work as well. State governments ran by Republicans want to cut Medicaid and food stamps from those who can't work or too poor. They want to offset expenses by making work or trade requirements. How can we work when businesses are closing up shop. Retail sales are down. How can we afford to pay for luxury when you're too broke or just barely surviving in the Trump economy?
Yeah, 6 million jobs added. Great. There are probably 208 million active workers in the United States. There are probably 4 million people who just lost their jobs. So in other words, it's actually 2 million that have found jobs.
Real Reason To Why Unemployment Rate Stays The Way It Is! There are 104 million active body people not working in the United States.
3. IN PRISON
4. IN PRIMARY SCHOOL
5. IN MIDDLE SCHOOL
6. IN HIGH SCHOOL
7. IN COLLEGE NOT LOOKING
10. STAY AT HOME PARENT
12. QUIT ON THEIR OWN
13. NOT HIRING QUALIFIED
14. NATURAL DISASTERS
15. ACTIVE MILITARY
16. NOT HIRING TOO QUALIFIED
17. LAID OFF
18. FIRED FROM THE JOB
19. DESTRUCTION TO FACILITY
21. IMMIGRANTS TOO AFRAID OF BEING DETAINED BY I.C.E.
22. SHAMED BY SOCIAL MEDIA
So if you actually believe that Trump is doing good, you're wrong. We are going to see the economy tank in three years. The inept leader rollback of regulations, these tariffs, saying these ridiculous comments and pushing for tax cuts are going to hurt us all in the long term.
Most Americans believe Trump is dishonest and a racist. That's not good. People are saying that Republicans are overreaching. This could hurt their chances to hold onto Congress.