Tag Archives: Jobs

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Trump’s Trade War Has Killed 300,000 Jobs

300,000

Yahoo News: “Forecasting firm Moody’s Analytics estimates that Trump’s trade war with China has already reduced U.S. employment by 300,000 jobs, compared with likely employment levels absent the trade war. … That’s a combination of jobs eliminated by firms struggling with tariffs and other elements of the trade war, and jobs that would have been created but haven’t because of reduced economic activity.”

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Job Growth Nonexistent in February

20,000

Job growth came to a near halt in February after a blistering start to the year, with nonfarm payrolls increasing by just 20,000 even as the unemployment fell to 3.8 percent, CNBC reports.

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Employment Up in January

304,000

The Labor Department said that 304,000 jobs were added last month, as compared to an estimate by economists of about 172,000, the New York Times reports. The unemployment rate rose to 4.0 percent. “January’s growth means that American employers have added jobs for 100 consecutive months, extending a record run. The unemployment rate is near a multidecade low, and wages — long a weak point — are rising.”

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GM to Slash 15,000 Jobs in Michigan, Ohio

15,000

General Motors said it will cut production of slow-selling models and slash its workforce by roughly 15,000 jobs, mostly in Michigan and Ohio, Reuters reports. “Cost pressures on GM and other automakers and suppliers have increased as demand waned for traditional sedans. The company has said tariffs on imported steel, imposed earlier this year by the Trump administration, have cost it $1 billion.”

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Unemployment at 18-Year Low

3.8%

“U.S. employers extended a streak of solid hiring in May, adding 223,000 jobs and helping lower the unemployment rate to an 18-year low of 3.8 percent from 3.9 percent in April,” the AP reports.

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Report: 800 Million Will Lose Jobs to Automation by 2030

800 million

A new McKinsey study says massive government intervention “will be required to hold societies together against the ravages of labor disruption over the next 13 years. Up to 800 million people—including a third of the work force in the U.S. and Germany—will be made jobless by 2030,” Axios reports.

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Jobless Rate Hits 16-Year Low

4.3%

U.S. employers added a seasonally adjusted 209,000 jobs in July and the unemployment rate fell to 4.3%, the Wall Street Journal reports.

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Mar-A-Lago Wants to Hire 70 Foreign Workers

70

“President Trump’s Mar-a-Lago Club in Florida has asked permission to hire 70 foreign workers this fall, attesting — in the middle of the White House’s ‘Made in America Week’ — that it cannot find qualified Americans to serve as cooks, waiters and housekeepers,” the Washington Post reports. “Those requests were made to the Department of Labor in recent days and posted online Thursday.”

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May Job Numbers Disappoint

138,000

The U.S. economy added 138,000 jobs in May, the New York Times reports. Economists had expected a gain of about 185,000 jobs. The unemployment rate fell to 4.3 percent, the lowest since 2001.

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Only 98,000 New Jobs in March

98,000

The U.S. economy added only 98,000 jobs in March, well below expectations, though the unemployment rate dropped to 4.5%, its lowest since May 2007, the Wall Street Journal reports.