ECONOMIC GLOOM – AT 9:55 A.M. ET: Day by day the numbers are getting worse, and that's trouble for Hillary. From Bloomberg:
Employers in April added the fewest number of workers in seven months and the U.S. jobless rate held steady as subdued economic growth prompted a more moderate rate of hiring.
The 160,000 gain in payrolls followed a revised 208,000 rise in March, a Labor Department report showed Friday. The median forecast in a Bloomberg survey called for a 200,000 April advance. The jobless rate, projected to ease, stayed at 5 percent, while wage growth accelerated.
Industries that showed strong first-quarter job growth pulled back, with retailers cutting payrolls by the most in two years and construction companies adding the fewest positions since June. More tempered additions to headcounts shows hiring managers are adjusting in the wake of economic growth that has slowed for three straight quarters.
“Employment was never going to continue rising at more than 200,000 a month indefinitely,” Paul Ashworth, chief U.S. economist at Capital Economics in Toronto, said in a research note. “Those monthly gains are simply unsustainable in an economy with a potential economic growth rate of less than 2 percent.”
COMMENT: And of course we have to look at the kind of jobs being created. They haven't been all that great, and wage stagnation has been the rule, not the exception.
Not much for Hillary to run on. Calling the woman card!
May 6, 2016 |