Signs that the job market is slowing have been piling up this week. One of the “brightest” and most touted pieces of the American economy is showing cracks, and many are taking notice.
It took a little time, but United States businesses have warned over the past year that the effects of tariffs would ripple into the labor market. We continued to warn that the effects of this trade war on the American worker and consumer would be felt heavily, while the nation of China is left largely unscathed. But until now, it appears that not many have listened.
According to Business Insider, the Labor Department on Tuesday said the number of job openings fell by 31,000 in July to a seasonally adjusted 7.2 million, the latest sign of weakening labor demand. The results showed openings remained plentiful, but they came just days after the department reported weaker-than-expected figures for August employment.
“Last week’s jobs report sparked a debate over whether the slowdown in hiring is due to an economy hitting full employment, but today’s JOLTS report indicates that this is actually a labor market that is losing momentum,” said Nick Bunker, an economist at Indeed Hiring Lab.
The US added 130,000 nonfarm payrolls in August, a slowdown from a month earlier and compared with forecasts for an addition of 160,000. Economists said the real increase was closer to 105,000 last month, however, without taking into account a wave of temporary workers hired for the 2020 census. Earlier Tuesday, the National Federation of Independent Business said small firms reported fewer open positions that they could not fill in August as outlooks for the economy dimmed.
“The good news — relatively — is that capex plans rose a point, though the trend remains weak and continues to signal a clear downshift in business investment through the end of this year and into early 2020,” said Ian Shepherdson, the chief economist at Pantheon Macroeconomics according to Business Insider.
The downturn in the economy has been obvious for a little while, and Trump’s trade war is shaking things up in the wrong way. A majority of Americans think a recession will hit the U.S. next year, and most are blaming Trump for starting an economically devastating trade war.
Far too many are in employment that is linked to “fluff” (non necessities). Too few have real tangible skills that demand for may slow but will remain valuable. One needs “educated hands” requiring them to be where the work is (Disney However Hired Techs From India To Displace Labor Here). Certainly physicians are the greatest and likely most lucrative example but tradesmen requiring significant training that academically reduces the competition is high in the blue collar realm. If one never leaves their office and little to no “face to face” interaction is necessary that office is liable to end up in India. The “doing something you love” takes a secondary position to doing something that will maintain a comfortable standard of living.
Wow, I just typed a long comment and before I was done, POOF, it was gone. It was a good comment too. The short of it was that I am so cheap that rescue workers will find my frozen dead body in the woods with a FULL box of stormproof matches. They will wonder why I didn’t start a fire, until they pry open my cold dead hand and discover a cheap match book, I was trying to use, because I thought that I still had a few minuets until hypothermia sets in. If only…
I just got back from Walmart and picked up another box of Emergency Stormproof Matches for $3.15 with tax. (Stop and copy text…just in case). At least I know the self check-out line takes pennies.
I was there to pick up my NEW Fiskars Bow Saw for $10.00. I didn’t get the expensive Agawa Canyon – BOREAL21 Folding Bow Saw – Black Frame, Green Handle, All-Purpose Blade OR EVEN the cheaper/but better Bahco 10-24-23 Bow Saw with Ergo Handle, 24-Inch. I decided that I needed bug-out Shelter more than a fancy folding saw.
I got the Chuck Norris of TARPS…the Aqua Quest Defender Tarp – 100% Waterproof Heavy Duty Nylon Bushcraft Survival Shelter 13×10.
I should hit submit comment before…
I decided to spend my money on a tarp because I was watching a News story on the homeless in California and realized that they had better tarps and tents than I did. Well that was a wake-up call for sure.
So in case I have to bug-out and/or just find myself evicted from my own home, probably because I could not afford the ever increasing property taxes, I will be set.
Friends: Do NOT shop at Trash-Mart please, for the Love of Christ baby Jesus, stay the hell out of that dump.
MAJOR PREDICTION: which is guaranteed to make me look foolish. I have always maintained that “they” want to blame the coming financial collapse on Trump and that darned “Deplorable s” (i.e. Nationalist). They have clearly targeted “White Countries” that want to maintain their Sovereignty (e.g. Russia, The US and England).
They have demonized Trump and the “White Nationalist” (ie. anyone who believes in the Constitution and National Sovereignty). They will kick off the collapse AFTER England separates from the EU at the end of October.
Justice, I’ve heard a rumor for the past 2 years that if the Fed/Wall St. collapse the economy Trump will be blamed so your prediction is NOT foolish. The Dems and all the minority trash are always blaming white people for their own problems they created themselves. They can all kiss my white ass. Your prediction just might come true.
Thanks DR. It’s always good to hear from you. Especially now that you’re permanently located at the BOL. I hope everything is going well!
DR: Amen to them apples: To utter and absolute hell with the vile puke demonRats and all of the various filthy ass ‘darkies’ as well.
Justice, I don’t think your prediction is foolish. I’ve heard a rumor from a few sources that Trump will get blamed for any ‘economic collapse’ or whatever. Hell, the poor guy gets blamed for everything by these stupid-ass libturds. The dems/lefties can kiss my white ass.
DR, I don’t call them Democrat’s or leftists anymore. To me they are full fledged COMMUNISTS. These “red flag” laws are straight out of Soviet Russia. Where dissidents were convicted, extra judicially (i.e. outside the established legal system). They are bringing that same system here so that they can “DEAL” with people/”Irredeemable Deplorables” outside the legal system, which requires Due Process and other “Legal” protections.
May God have mercy on us.
Quit whining about Trump . Every sitting president is always blamed for anything and everything. That is how media make s there advertisement dollars by keeping you pissed off so u continue to watch the news everyday.
Hi all.
How’s everyone doing ? Haven’t been on for a while took my ass to goldsmith/jewelry school.??.
And then off to a family reunion.
Point being I had to travel to Vancouver mainland. That’s where university of Vancouver for fine arts.
So I spent 2 months around s real campus surrounded by exactly what you see on the internet.
I had to take a sensitivity course on how not to piss anyone off. Lol damn near impossible if you ask me.
I just kept my head down and went to the classroom. Being from alberta didn’t help my case much lol. Like you guys we have different coloured licenses plates. Mine stick.out like a sore dick on a wedding night.
Bright red and white.
These people are truly disillusional they really don’t want that pipeline and are truly convinced it will never happen. I guess the look on my face gave it away I simply said I know my government and I also know they will ram that thing down your throats twice if they are in a bad mood.
Yet they complain about high gas prices and the cost of living.
I just shake my head.
And in Manitoba those folks dont really care one way or the other.
One overall thing I realized
1) I’m not leaving alberta anytime soon again.
2) albertans are very different to the rest of the country.
Separation talk is getting louder as our federal election looms. In canada its one man one vote and everyone loves out east so we out west get shit on yet we have all the natural resources. Thus all the money.
We may just be be a state yet. 50th?51st. Lol. I heard somewhere it would take your government all of 2 hours to approve recognition as a state.
Lol kinda hope not.
I’d loose my healthcare but hopefully I’d get more gun rights.
Is that you Angry Beaver?
From boreal to uni…some change there, huh?
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Now that you are a jeweler mebbe you can make Trudeau a pearl necklace to clutch?
I have to ask why?
“It took a little time, but United States businesses have warned over the past year that the effects of tariffs would ripple into the labor market. “.
It certainly will hurt the Chinese market job. How does it hurt our job market? Demand for something that is necessary doesn’t decrease. Due to tariffs being a tax, prices will necessarily rise and the Federal government gets the money.
Taxes are always bad.
The entire world supply chain is correcting so we will see a slowdown. Automation is increasing taking jobs, even in China.
Jobs are going to slow down, but it is not due solely to a “trade” war.
I’d look closer at there are going to be more workers than work for them to do, if that is not already the case, Excepting highly skilled work or work requiring a lot of education.
That also creates another problem, if your customers can’t make enough money to afford your products, What do you do?
Figure out how to cut costs.
Next decades will be interesting.
20+ YEARS of collapse doom and gloom.
Millions and millions of postings, million and millions of collapse newsletter, YoStupid videos.
And the smart ones are up 40x reinvesting energy and consumable dividend stocks.
The next big wave will be any junk food, medical and pharma that treats fatasses. Six billion people on the planet will become obese and require tens of thousands $$$ of care, each year, each person. Coming soon: $120T a year of treating the fatasses, and that also will increase yoy.
I’m calling bs! Everywhere I go there are help wanted signs out and I’m not just talking about the quickie mart. I have a full time job and turn down more side work than I ever have in my life. There is no slow down this is just media hype so we stop spending and slow down the economy.