The Trump Summer Jobs Stall. Most businesses have stopped new hiring as tariffs add costs and uncert

[Timber Rattler]

https://www.wsj.com/opinion/august-jobs-report-hiring-donald-trump-tariffs-federal-reserve-23606e84

President Trump fired the Bureau of Labor Statistics commissioner last month because he didn’t like the monthly jobs numbers. He claimed the numbers were “rigged.” But Friday’s monthly report for August confirms that job creation has stalled amid his tariff barrage.

Employers added a mere 22,000 jobs last month while the numbers were revised down for the previous two by a combined 21,000. This means only 107,000 new jobs were created in the last four months—an average of 27,000. Monthly job gains averaged 167,000 last year.

Nearly all of the new jobs last month were in social assistance and healthcare (46,800), which rely on government spending. Industries with high tariff exposure shed workers, including manufacturing (-12,000) and wholesale trade (-11,700). Transportation equipment manufacturing lost 14,500, and manufacturing jobs overall this year have declined by 38,000. That tariff golden age is still over the horizon.

The Occam’s razor explanation is the uncertainty and additional costs from Mr. Trump’s border taxes. Caterpillar estimates that tariffs will cost the equipment maker $1.8 billion this year. Deere projects a tariff hit of about $600 million, mainly from higher steel and aluminum costs. Deere is also hurting because soybean farmers have seen their market share in China shrink after its trade retaliation. Tariffs are slamming U.S. auto makers like Ford ($2 billion tariff cost this year).

Jobs in mining also notably declined last month by 6,000. Oil and gas producers say the tariffs have increased prices for materials and caused them to pull back on drilling. Construction job growth has stalled since January and fell last month by 7,000, likely owing to the President’s immigration crackdown and higher building costs from tariffs.

EXCERPT

Trump's tariff's are starting to bite.

[LMAO]

We conservatives are not surprised. We’ve argued with a few here  that this was going to  happen with Trump‘s chaotic tariff policy and now we’re being proven right in spades. The only jobs that the economy is really creating is in healthcare. We are losing manufacturing jobs despite the promise of a manufacturing renaissance from these tariffs.

Those of us doubters  were even told we would be eating crow by September. Well, it’s September and I’m getting hungry. Dollar dropping. Gold rising. Prices rising. Jobs declining.

It’s so bad that Trump is now been reduced to claiming that the economy won’t really takeoff until 2027 after insisting that we’re the “hottest” economy. Of course that goes with his claim of 60-70% job approval rating.

Paul Begala’s prediction of 40 seats in the House  for Democrats next year may be under shooting it.


And watching the excuses from this administration and it supporters for this economy would be laughable if it didn’t cause harm to people


I have noticed in the last few months that the tariff cheerleaders have been awfully quiet here.


Now the blame game starts. Powell has been blamed. Biden has been blamed. It wouldn’t surprise me that the end of this the American people will be blamed for not recognizing Donald Trump’s genius, and therefore we must suffer. He stopped at blaming businesses during his first term

[Timber Rattler]

We conservatives are not surprised. We’ve argued with a few here  that this was going to  happen with Trump‘s chaotic tariff policy and now we’re being proven right in spades. The only jobs that the economy is really creating is in healthcare. We are losing manufacturing jobs despite the promise of a manufacturing renaissance from these tariffs.

Those of us doubters  were even told we would be eating crow by September. Well, it’s September and I’m getting hungry. Dollar dropping. Gold rising. Prices rising. Jobs declining.

It’s so bad that Trump is now been reduced to claiming that the economy won’t really takeoff until 2027 after insisting that we’re the “hottest” economy. Of course that goes with his claim of 60-70% job approval rating.

Paul Begala’s prediction of 40 seats in the House  for Democrats next year may be under shooting it.


And watching the excuses from this administration and it supporters for this economy would be laughable if it didn’t cause harm to people


I have noticed in the last few months that the tariff cheerleaders have been awfully quiet here.

Now the blame game starts. Powell has been blamed. Biden has been blamed. It wouldn’t surprise me that the end of this the American people will be blamed for not recognizing Donald Trump’s genius, and therefore we must suffer. He stopped at blaming businesses during his first term

Indeed so.  And now I'm seeing people blaming Biden, or arguing that Trump's only been in office for 7 months, so give him a break!

Ugh, no, but as usual, the buck never stops with Trump, or reaches him, as he always suggests.

My wife owns and operates a novelty store, and her Danish, Canadian, and UK suppliers have all but cut her off because of the tariffs and Trump's bullying.  I wonder how many other small businesses out there have been similarly affected?