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In reply to the discussion: U.S. added just 73,000 jobs in July and numbers for prior months were revised much lower [View all]LetMyPeopleVote
(167,668 posts)53. 'Brutal' job report leaves experts reeling: 'Hard to overstate how bad'
This is a horrible jobs report
'Brutal' job report leaves experts reeling: 'Hard to overstate how bad' --- the tRUMP administration & the Republican party = Complete & UTTER FAILURE & they're all evil small little men who bent over for a dumb as a rock bully...
— ladyracer71.bsky.social (@ladyracer71.bsky.social) 2025-08-01T14:58:48.019Z
Link to tweet
https://www.rawstory.com/brutal-job-report-leaves-experts-reeling-hard-to-overestimate-how-bad/
What really made the latest jobs report concerning, however, was the downward revision of previous months' gains, which the BLS described as "larger than normal." The number of jobs added in May was revised downward from 144,000 to 19,000, while the number of jobs added in June was revised downward from 147,000 to 14,000. Taken together, this means that the economy has added an average of just 35,000 jobs per month over the last three months.....
Market analyst Adam Crisafulli, the founder of Vital Knowledge Media, shared Long's view that the Federal Reserve would likely start cutting rates soon and he even believed that the Fed would have cut rates starting this week had it known about the weakness of the labor market.
"Hard to overstate how bad this jobs report was," he commented on X......
Jessica Fulton, a senior fellow at the Joint Center for Political and Economic Studies, argued that the slowdown in hiring, combined with the increased costs consumers are facing thanks to U.S. President Donald Trump's tariffs, are putting American workers in a very tight squeeze.
"The economy continues to show signs of weakening even as the White House pushes policies that will raise costs and make it harder for families to make ends meet," she said. "Labor market cracks that showed up for Black women earlier this year are beginning to expand, with Black male unemployment reaching 7% this month. Black workers are often laid off first when the economy slows down."
Market analyst Adam Crisafulli, the founder of Vital Knowledge Media, shared Long's view that the Federal Reserve would likely start cutting rates soon and he even believed that the Fed would have cut rates starting this week had it known about the weakness of the labor market.
"Hard to overstate how bad this jobs report was," he commented on X......
Jessica Fulton, a senior fellow at the Joint Center for Political and Economic Studies, argued that the slowdown in hiring, combined with the increased costs consumers are facing thanks to U.S. President Donald Trump's tariffs, are putting American workers in a very tight squeeze.
"The economy continues to show signs of weakening even as the White House pushes policies that will raise costs and make it harder for families to make ends meet," she said. "Labor market cracks that showed up for Black women earlier this year are beginning to expand, with Black male unemployment reaching 7% this month. Black workers are often laid off first when the economy slows down."
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U.S. added just 73,000 jobs in July and numbers for prior months were revised much lower [View all]
BumRushDaShow
Aug 1
OP
The updated article noted the reported "147,000" job increase last month was revised down and was actually "19,000"
BumRushDaShow
Aug 1
#3
tRump and WH do not "put out" the BLS numbers. Revisions have been frequent for decades. . . . nt
Bernardo de La Paz
Aug 1
#44
You do know that tRUMP is going to drive out the neutral bean counters at the BLS?
wolfie001
Aug 1
#78
He's going to try (viz. firing chief of BLS today, after I wrote). We haven't seen the business world react yet. . . nt
Bernardo de La Paz
Aug 1
#79
Thank you for your kind words. Mass action is in our hands. I too am hoping for a Blue Storm Surge 2026. . . nt
Bernardo de La Paz
Aug 1
#81
No, we don't need so-and-so numbers to keep up with population growth because we don't know population growth.
mathematic
Aug 1
#14
It is true that nearly 1 in 5 workers in the US labor force is foreign born. The irony with the immigration wedge
PatrickforB
Aug 1
#28
The US does need population growth for a while to deal with and care for the retiring boomer cohort
Bernardo de La Paz
Aug 1
#45
No "just" about it. BLS is professional and no toadies parachuted in. You have NO evidence. . . . nt
Bernardo de La Paz
Aug 1
#46
I was thinking about this this morning. Cuts in Medicare, ACA, and food programs
underpants
Aug 1
#29
The massive cuts to Medicaid now will drastically degrade the level of care for Medicare as a secondary effect.
Hugin
Aug 1
#36
Those cuts only kick in after the 2026 midterms, by craven design of the magabots in Congress who think they are smart.n
Bernardo de La Paz
Aug 1
#47
I wonder where are all the college and high school jobs that always occurred during the summer?
LiberalArkie
Aug 1
#56
Correct. There's over 150,000 Federal workers who took the deferred resignation option.
Wiz Imp
Aug 1
#8
This right here is bad bad as I understand it. The worst type of economic downturn
Cheezoholic
Aug 1
#23
Stagflation comes from supply shocks. Tariff taxes are a supply shock. Labour deportations are a supply shock.
Bernardo de La Paz
Aug 1
#25
"above the June total of 14,000" - they neglect to say that that was revised down from 147,000
Prairie Gates
Aug 1
#10
Powell said on wednesday that lowered immigration was resulting in lower workforce size (growth)
mathematic
Aug 1
#11
No, not really. 2021 had nearly all positive revisions. 22, 23, 24 had more negative revisions than positive
mathematic
Aug 1
#39
Monthly revisions are almost always fairly modest. When the revisions become significant, it usually
Wiz Imp
Aug 1
#43
Wisdom of the Ancients: If circles and arrows have to be drawn on a chart for you to find...
Hugin
Aug 1
#21
Trump's tariffs, anti-immigration agenda and disrespect to other nations will break the American economy.
Doodley
Aug 1
#31
Ughh, look at the headlines at finance.yahoo.com. And S&P 500 down 1.6% 1136 AM ET
progree
Aug 1
#50
Maddow Blog-U.S. job growth turns cold as Trump's agenda takes its toll on the economy
LetMyPeopleVote
Aug 1
#51
ADP is only counting "private sector" jobs (using their payroll subscribers as the survey source)
BumRushDaShow
Aug 1
#61
President Trump says he will fire BLS commissioner after July jobs report disappoints
progree
Aug 1
#63
Yeah, I figured. As soon as I saw my yellow "My Posts" light lit up, I immediately thought, ruh roh,
progree
Aug 1
#68
Not only do they do these "First Friday" job numbers, they do CPI and PPI (wholesale) inflation, Productivity,
progree
Aug 1
#71
"Kugler resignated posted about 15 minutes before your post" - yeah I figured that, but thought
progree
Aug 1
#74
Thanks :) Yes, I run into that all the time, and do the same thing usually -- stick in a space
progree
Aug 1
#85
I wish they'd give us a choice about using AI, but no, every time I do a Google search
progree
Aug 2
#89
Yes, it would be nice not to have AI fill up half the first page. Mostly what I'm trying to do is prevent the AI search
progree
Aug 2
#96