U.S. economy adds just 130,000 jobs in August amid worries
Source: Washington Post
The U.S. economy added a disappointing 130,000 in August, the Labor Department said Friday, heightening fears that Trump’s trade war is starting to bite and the U.S. economy is hitting a rough patch. Economists had predicted 160,000 job gains in August. Business owners say they are struggling to find people to hire, and they are growing increasingly nervous about President Trump’s trade war. The unemployment rate remained at 3.7 percent, the lowest in nearly half a century, forcing employers to search harder for new workers.
Right now, the United States is a tale of two economies: The service sector remains strong with health care and business adding a lot of jobs in August. But industries like mining and manufacturing that depend heavily on selling items overseas are struggling. Manufacturing is already in a recession and the sector has added few jobs this year, a trend that continued in August. Mining employment fell by 6,000 jobs. Hiring in August was also boosted heavily by the U.S. government adding 25,000 temporary workers to its payrolls for the 2020 Census.
Most companies have already scaled back spending on buildings and equipment, and there is concern that they will now cease hiring, a move that could have harmful consequences to the U.S. economy since consumer spending drives so much of the U.S. economy. When Americans are fearful of losing their jobs, they tend to halt spending.
In the past three months, job gains averaged 156,000 a month, a noticeable downgrade from last year, when job gains averaged 192,000 a month. For now, Americans are spending because “we’re hiring!” signs still appear plentiful in many towns and pay is rising at many companies. Wages grew at an annual pace of 3.2 percent in August, well above inflation, although slightly slower than earlier this year.
Read more: https://www.washingtonpost.com/business/2019/09/06/us-economy-adds-just-jobs-august-amid-worries-that-trade-war-has-sunk-its-teeth-into-hiring/
Full headline: U.S. economy adds just 130,000 jobs in August amid worries that trade war has sunk its teeth into hiring
Will be updating this as info comes in and will await DU's economic analysts to add their deeper dive! TGIF!
Original article and headline -
By Washington Post Staff
September 6 at 8:31 AM
Businesses, consumers and political leaders are watching for effects of the trade war on the economy, and the labor market's strength has been a key focus.
This is a developing story. It will be updated.
https://www.washingtonpost.com/news/business/wp/2019/09/06/the-u-s-economy-added-130000-jobs-in-august-as-hiring-slowed-sharply-amid-concerns-that-the-economy-is-deteriorating/
= new reply since forum marked as read
That "1" will be changed to a "4" by the end of the day by a certain black Sharpie. 
Not a lovely predicament to be in.......
The White House found a chart it could take a Sharpie to.
The chart is from 2016.
U.S. Unemployment Rate Remains at Near-Historic Low of 3.7 Percent; African-American Unemployment Rate Hits New Series Low
September 6, 2019 5 minute read
Council of Economic Advisers
The Bureau of Labor Statistics (BLS) released its monthly Employment Situation Report, showcasing strong wage growth and steady employment growth. Total nonfarm payroll employment in August increased by 130,000 jobs. Including revisions for the months of June and July, the average pace of job growth has been a robust 173,000 jobs per month over the past year and 158,000 jobs per month so far in 2019. The CBO projected only 14,000 new jobs per month at this point in the cycle in its final pre-2016 election forecast, prior to enactment of the Administration’s pro-growth policies, so this month’s job growth is nearly ten times higher than the job growth CBO had anticipated for this quarter. In total, the economy has added over 6.3 million jobs since the President was elected, nearly 4.5 million more jobs than the CBO predicted would be created between the end of 2016 and the end of 2019:Q3 (figure 1).
{snip}
Other than that, good morning. I'll add more later on.
Good morning and TGIF to you!
this month's will probably be revised down too... in the next month or two. 
I remember all the nonsense about his figures being "anemic". 
(I like this article - https://www.minnpost.com/eric-black-ink/2019/05/on-the-economy-obama-owns-trump/ 
)
It was supposed to be "4%, 5%, even 6%!!!111!!!11!!". 
Hope you are enjoying the weekend.
