The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.

Thursday, April 26, 2018

Trump's Economy: Private Sector Job Growth Q3 2017 Down First Time 7 Years

Related image

If by chance you believe the hype about Trump's great economy, think again.  

We are seeing gasoline prices easing up towards $3.00 per gallon. 

Ford Motors is contemplating closing all automobile lines while moving go only producing trucks and SUVs.

Reports are circulating retirees and working Americans are seeing no benefit from the Trump/Ryan tax cut while wealthy Americans are seeing virtually all the tax gains. 

What about US employment you may ask.  Yes, unemployment is hovering around 4.1 percent but there is another glaring statistic which could provide devastating. The BLS is reporting private sector job growth has decreased in late 2017 for the first time in seven years.

Bureau of Labor Statistics

Quarterly Data Series on Business Employment Dynamics News Release

For release 10:00 a.m. (EDT), Wednesday, April 25, 2018

From June 2017 to September 2017, gross job losses from closing and contracting private-sector establishments were 7.4 million, an increase of 268,000 jobs lost from the previous quarter, the U.S. Bureau of Labor Statistics reported today. 
Over this period, gross job gains from opening and expanding private-sector establishments were 7.3 million, a decrease of 348,000 jobs gained over the quarter. The difference between the number of gross job gains and the number of gross job losses yielded a net employment loss of 140,000 jobs in the private sector during the third quarter of 2017. (See tables A and 1.) 
The change in the number of jobs over time is the net result of increases and decreases in employment that occur at all private businesses in the economy....
This is how it looks via an MSNBC chart.

Image result for private sector job losses

Trump has a propensity to claim positive news regarding back employment.  Well, it isn't so.

MSNBC's Ali Velshi

Trump's economy.

No comments :

Post a Comment