The vital signs of the labor market indicate that they have become more ill, and that the health care sector is one of the few that prevents it from looking worse.
the The latest job report He revealed that the American economy added only 22,000 jobs in August with reviews to the previous months that show June, which has already witnessed a decrease. Meanwhile, the unemployment rate increased to the highest level in four years of 4.3 %.
in Note on SaturdayTorsten Släk, Chief Economist in Global Administration ApolloNote that the growth of jobs in the sectors that suffer from customs tariffs is negative. The manufacturers alone reduce 12,000 workers last month.
In contrast, health care and social assistance sectors added 46,800 jobs, while the entertainment and hospitality industry added 28,000. In fact, they have lifted heavy over the year, a trend related to Mark Zandy, chief economist in Modi analyzes.
“Perhaps it is more worrying to the work of the work full of the brand is the extent to which it depends on health care and hospitality because of the little job growth,” On Sunday x wrote. “Since the beginning of the year, the economy has created the jobs of 600 thousand male, but without the growth of jobs in these industries, there will be no growth in jobs.”
We gain from the sectors of health care and general social assistance to 855,900, the entertainment and hospitality industry. Data from the work statistics officeThis means that the economy will actually be in the hole with more than 250,000 jobs if not for these groups.
Zandy also pointed out that less than half of the BLS industries added to salary statements during the past six months, adding that “this only happens when the economy is in a stagnation.”
The proliferation index in the job report assesses the growth concentration. Read less than 50 means more industries reduce jobs than add -ons. In August, it was 49.6, and it was average three months 47.9.
“Standardization of jobs”
Zandy was steadily scrutinizing the warnings on the economy. Last month, after July job report is shockingly shockedBeware of this “Economy on the edge of the recession“Pointing to poor spending on consumers and contraction in construction and manufacturing.
After the release of the August Jobs report on Friday, Zandy said wealth Eva Royburg that the economy is on the edge of the recession and may be already in one.
He called the review to June, which showed a loss of 13,000 jobs, especially the importance of retreat, which usually dates back to the first month of the decrease in salary statements.
Meanwhile, unemployment increased in the long term over the past year, and more than 6 million people outside the workforce say now that they want a job, up from about 5.7 million, according to The BLS.
“This really seems to be the stagnation of jobs,” Zandy said luck. “Employment is flat down. The output and income are still growing, but the economy is incredibly weak. Nothing can make a mistake, or it can direct us to a complete decrease.”
Certainly, the economy remains in a positive area at the present time. GDP expansion by 3.3 % in the second quarter, and Tracking GDP in Atlanta Fair It appears that the third quarter is going at a 3 % increase.
Earlier on Sunday, Treasury Secretary, Scott Payette, was asked to respond to the suspension of Zandy jobs.
In an interview with NBC Meet the press with Christine WilkerHe said that policies exist that will create good -feasible jobs. Pisent also said that the salary statements collected in August were subject to the big reviews at a later time, and he blamed the Federal Reserve for Not lowering prices sooner.
“President Trump has been elected to change, and we will transfer the economic policies that will put the economy properly. I think, by the fourth quarter, we will see a great acceleration,” he said.
https://fortune.com/img-assets/wp-content/uploads/2025/09/GettyImages-2217161762-e1757268342241.jpg?resize=1200,600
Source link