General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums****The MAGA Recession Is Almost Here****
US labor market adds 73,000 jobs in July while May, June reports see 'larger than normal' downward revisionsThe latest monthly jobs report showed the US labor market added fewer jobs than expected in July while the unemployment rate moved higher, and revisions to prior months' numbers revealed significantly fewer jobs had been added than initially thought.
The US economy added 73,000 nonfarm payrolls in July, less than than the 104,000 expected by economists. The unemployment rate moved up to 4.2% from 4.1% the month prior, in line with expectations from economists.
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https://finance.yahoo.com/news/us-labor-market-adds-73000-jobs-in-july-while-may-june-reports-see-larger-than-normal-downward-revisions-195103455.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAJLeDIFOva2j9PVp-Mii7DH8lRBXDsHlABeD0TrfmkXSEIAh_nXnWtdawAxS2SRIv9-LxV7cRW0CvbhOGHW7dgB-YQ7Tss3Xoi6DR-Ur_yr9X98FDVt33aNeKzEtpMz1AIB5Aj1OovC05mM3Dkfa7M_ZazRXg0EnFKxmBeAQazk_
sop
(17,490 posts)The BLS, an agency of the U.S. Department of Labor, produces the monthly jobs report.
DemocratSinceBirth
(101,645 posts)Corporations will know if they are or aren't making money.
newdeal2
(4,812 posts)They discriminate against MAGA.
D_Master81
(2,344 posts)Trump is about only his image. If the American people dont know thats all that matters
Bernardo de La Paz
(60,320 posts)"making money" is a lagging indicator. You made money or not in the previous month or quarter.
Labour statistics are used for planning. Should they increase hiring on a rising economy? Before the labour market gets tighter and harder to source from?
Or should they hold back or even trim, on signals of a weakening economy, to get ahead of competitors.
Business depends on government statistics. Eliminating the BLS would turn Business against tRump same way eliminating the independence of the Federal Reserve would.
Justice matters.
(9,417 posts)How will they survive that?
Will the convicted pedo taco eliminate the tariffs once they'll be on the brink of filing for bankruptcy?
Bernardo de La Paz
(60,320 posts)They will survive.
GM and Chrysler have filed for bankruptcy before and survived. Knowing history helps maintain perspective. I recommend it.
Justice matters.
(9,417 posts)bail them out (and the big "too big to fail" criminal banksters as well) with the US taxpayers credit card, not by taxing the obscenely rich oligarchs and corporations who use the loopholes in order to avoid paying their fair share (which should be the same they were under LBJ).
If by antagonizing the rest of the world the pedofelon and his sycophants do, the dollar collapses due to their mismanagement, Canada has to diversify (should have been done before) and is actively seeking other partners.
Meadowoak
(6,605 posts)Bernardo de La Paz
(60,320 posts)Emile
(40,669 posts)the tsf.
WSHazel
(632 posts)Terrible jobs report. -185,000 including prior period adjustments is brutal.
JMCKUSICK
(5,158 posts)That's the real number, this may also mean that come September, July might show a net zero the way these numbers are kept.
oasis
(53,365 posts)modrepub
(3,998 posts)The upper classes use the desperation as a buying opportunity.
I figured the 💩 would hit the fan by this summer. I was off by quite a few months I guess. In my defense, Im not a trained economist. But neither is the current POTUS.
My adjusted forecast is for pitchforks, torches and pikes to be in high demand by Christmas.
BattleRow
(2,090 posts)ProudMNDemocrat
(20,630 posts)Want to wager a 6 pack that a majority of Trump voters DO NOT have at least $150,000 in a high yield savings account, Pensions, Social Security, plus Retirement Investment accounts to offset job losses and inflation?
I am not bragging, but my late husband planned for this starting in 1980. He KNEW that under TACO Don the first time required him to up the several retirement investment accounts and move money around to be safer when the Stock Market plunged during COVID. Our spending habits adjusted greatly to make sure after the 2020 election, we would be okay. When we sold our house in 2023, the Capital gains were immediately invested into 3 separate high Yield CD accounts to create even more liquid cash for later use. Those CD accounts have matured after 18 months and are now into a high yield Savings account and I put in another $10K to get an additional 4% interest a month. That is all in addition to his pensions from IBM, the US Military, a small manufacturing company he worked for for 10 years, as well as Social Security.
I doubt the average MAGA supporter and Trump voter has planned that over 20 to 30 years. How many of them live for today without a thought for tomorrow?
Wednesdays
(21,617 posts)Just so long as the brown people suffer along with them.
multigraincracker
(37,017 posts)patphil
(8,733 posts)nowforever
(586 posts)Trump is immune except when it comes to the dollar in your pocket. His disastrous economic policy will be his downfall.
littlemissmartypants
(31,684 posts)The severe case of botulism, Salmonella or poisoning from (name your dangerous microbe here) he's likely to get once his buddy Bob Jr. finishes gutting food inspections and safety guidelines.
I can't think of anything that I want more even if I have to wait until Kreesmass.
LeftyLucie
(50 posts)I expect bank runs and Trumpvilles and massive global unemployment. Make America the 1930s Again...
Meadowoak
(6,605 posts)littlemissmartypants
(31,684 posts)I can see a projected legit recycling prospect for all those Amazon boxes... low income housing.
CanonRay
(15,955 posts)come September.
Fil1957
(547 posts)perhaps, the end of the beginning. We've still got a lot of very bad economic news ahead. This will reduce Maga's power and popularity, but a lot of people are going to suffer, some deserving, most not.
RoeVWade
(844 posts)Grins
(9,246 posts)Orrex
(66,691 posts)Just days ago, Fuckface47 said that people tell him that theyve never seen so many jobs being added,
LetMyPeopleVote
(175,072 posts)The question for the White House is simple: If Trump has created a hot economy, why has American job growth slowed to a 16-year low?
How weak is the job market? Excluding the pandemic, Americans havenât seen employment numbers this bad since 2009 â during the Great Recession.
— Steve Benen (@stevebenen.com) 2025-08-01T13:38:22.471Z
The question for the White House is simple: âIf Trump has created a âhotâ economy, why has American job growth slowed to a 16-year low?â
https://www.msnbc.com/rachel-maddow-show/maddowblog/us-job-growth-turns-cold-trumps-agenda-takes-toll-economy-rcna222448
Nonfarm payroll growth was slower than expected in July and the unemployment rate ticked higher, raising potential trouble signs for the U.S. labor market. Job growth totaled 73,000 for the month, above the June total of 14,000 but below even the meager Dow Jones estimate for a gain of 100,000.
While the data from July was discouraging, far more important were the drastic revisions from May and June which were down by a combined 258,000 jobs, compared with earlier, preliminary reporting.
Indeed, according to the revisions, the U.S. economy created just 33,000 jobs combined over May and June, which is a woeful total for an economy that Donald Trump and his Republican cohorts have incessantly described as hot in recent weeks.
Over the first seven months of 2025, the latest data suggests the economy has added 597,000 jobs. That might sound like a decent number, but over the first seven months of 2024 when Trump said the economy was terrible the total was over 1 million jobs, and over the first seven months of 2023, the U.S. economy added nearly 1.7 million jobs.....
Indeed, the question the president and his team ought to face is simple: If Trump has created a hot economy, why has American job growth slowed to a 16-year low?
dalton99a
(92,179 posts)
unblock
(55,935 posts)To be sure, the tariff uncertainty in particular, combined with radical cuts in government spending, not to mention undermining government information services, are all negative long-term factors diminishing growth.
But for the time being, businesses have figured out that the tariff noise is more mark than bite as Donnie so often talks big, then delays and backs down. Still, the tariffs that have stuck are doing real damage, just less than has been feared.
All this against a backdrop of a global economy that's still doing fine after good years here under Biden.
So we're not in imminent danger of a formal recession. The job market has certainly pulled back, though that has more to do with AI replacing other jobs.
Tariffs will do damage, don't get me wrong. They'll just need time to really hurt us.
Aristus
(71,675 posts)But they will devotedly not blame the guy who caused it, and instead curse the name of Joe Biden. Like the good little bootlickers they are.
I've never seen a bigger group more fanatically dedicated to the maintenance of their own poverty and wretchedness.