National Review

The Jobs Miss

Mar 9, 2026Center Right

There could be a time when the economy shows enough signs of a slowdown to make a rate cut the right response, but that time is not now.

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America has the chips. Here’s what it’s missing in race with China

Washington Examiner

12 hours ago

America has the chips. Here’s what it’s missing in race with China

As America celebrates 250 years of freedom, the question is whether we can win the global race against China in artificial intelligence, the newest technology. The country that generates the most reliable electricity fastest will train the most powerful models and set technological terms for the rest of the century. China is building dozens of […]

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Trump's latest job report raises red flags for CNN analyst

Raw Story

21 hours ago

Trump's latest job report raises red flags for CNN analyst

The Department of Labor's latest economic report revealed concerning trends despite a declining unemployment rate of 4.2%. Job creation fell sharply to just 57,000 over three months, down from 129,000 in the previous report, according to the survey released Thursday morning. CNN senior business reporter David Goldman highlighted red flags in specific sectors: nursing jobs added only 22,000 over the past year, compared to 38,000 the previous year, while hospitality hiring experienced significant decline despite multiple cities hosting World Cup games. "That is something that we need to watch," Goldman said.He noted economists expect future revisions to clarify the numbers. "I think, and there are a number of economists who are smarter than me who think, that this might change as we get those revisions in the future months, because this is kind of defying logic and defining what we can see with our own eyes," Goldman said.Watch the video below. Your browser does not support the video tag.

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US Jobs Data Comes in Under Forecast | Bloomberg Businessweek Daily 7/2/2026

Bloomberg Politics

Yesterday

US Jobs Data Comes in Under Forecast | Bloomberg Businessweek Daily 7/2/2026

Today, Marta Norton, chief investment strategist at Empower, discusses the underwhelming June jobs report and that means for the Fed's next move. Then, Stuart Paul, Bloomberg Economics US and Canada economist, talks oil prices and what a permanent toll on the Strait of Hormuz would mean for oil prices. Plus, Robin Wenzel, head of the Wells Fargo Agri-Food Institute, breaks down the cost of fourth of July barbeque and where americans are feeling pinched at the grocery store. Finally, 'Bloomberg Business of Sports' co-hosts Vanessa Perdomo-Maglione and Randall Williams, discuss the United States' World Cup win over Bosnia-Herzegovina in the round of 32 and how a controversial red card may cost the US its leading scorer in the next game. (Source: Bloomberg)

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No World Cup jobs bump evident in June data

Axios

Yesterday

No World Cup jobs bump evident in June data

With the U.S. hosting the World Cup, there have been plenty of anecdotes about a booming tourism economy in host cities — Scotland fans drinking Boston bars out of beer, for example.But no World Cup hiring bump is evident in the June employment data.By the numbers: Leisure and hospitality employment fell by 61,000 jobs in June. That's the category that includes restaurant and hotel employment and is most sensitive to tourism trends.The report also sharply revised down what had been first reported as a huge surge in May employment in the sector — to 40,000 jobs added from 70,000.Of note: The month-to-month numbers are volatile, reflecting both sampling error and the vagaries of seasonal adjustment processes. But even over slightly longer time frames, there also is not much to see.The leisure and hospitality sector has shed an average of 9,000 jobs in the last three months. It gained an average of 13,000 jobs monthly in the 12 months before that.The intrigue: It's worth watching whether a World Cup bump shows up in the local economies in other ways, including retail sales and local tax receipts.Employment data for metro areas in June will be released later in the month.The bottom line: "Many had forecast additional hiring needed to support the draw of travelers from abroad and within the U.S. flocking to World Cup venues," Jim Baird of Plante Moran Financial Advisors wrote in a note. "That either didn't materialize or was more than offset by losses elsewhere."

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Jobs report gives labor market a yellow card

Axios

Yesterday

Jobs report gives labor market a yellow card

The job market entered the summer with less momentum than looked to be the case just a month ago.Why it matters: Call it a yellow card for the labor market. Thursday morning's employment report doesn't undo three months of stronger hiring, but it does warn that the rebound is less durable than first thought.Hiring has remained concentrated in a handful of industries, leaving fewer opportunities for Americans looking to switch jobs or reenter the workforce.What they're saying: "June's jobs report put a damper on the fireworks, coming in well below expectations and pointing to a labor market that's more fizzle than sparkle," Glassdoor chief economist Daniel Zhao wrote Thursday morning.Driving the news: Payrolls rose by 57,000 in June, roughly half the gains that economists expected. New revisions also show that hiring was weaker than expected over the previous two months, with payroll employment revised down by a combined 74,000 jobs.Payroll gains averaged 111,000 over the past three months, down from 164,000 in May. That's well above the 33,000 pace a year ago, but suggests that the labor market's spring rebound has faded.Zoom in: Fewer Americans were working in June, and fewer were looking for work — a combination that mechanically pushed the unemployment rate down a tick to 4.2%. Household employment fell by 507,000, while roughly 720,000 people left the labor force in June, driving the participation rate down 0.3 percentage point, to 61.5%.Fewer prime-age workers, those between 25 and 54, were working or looking for a job in June: The participation rate slid 0.6 percentage point, the biggest one-month decline outside the pandemic in at least a decade.The big picture: Slower hiring, downward revisions, weaker labor force participation and a narrower mix of industries creating jobs leave economic policymakers with a more difficult question than they faced a month ago.It's unclear whether the uneasy mix of labor market factors in June was a blip or the start of a slower labor market phase.One notable exception to the report's softer tone was wages. Average hourly earnings rose 0.3% in June — the second consecutive month of acceleration — and 3.5% from a year earlier, though slower hiring in lower-paying industries may have lifted the average.What to watch: Federal Reserve chairman Kevin Warsh said last month that the labor market's three-to-six-month trend mattered more than any single jobs report, while noting that the job market had been "moving in a good direction."Financial markets' outlook for the Fed barely budged after the report. One weaker report is not enough to push off expectations that the central bank might have to raise interest rates to contain too-high inflation.Traders now see a roughly 78% chance of at least one rate hike by year-end, down only modestly from about 83% before the jobs report, according to CME FedWatch.

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US employers added just 57,000 new jobs in June, lower than expected

US news | The Guardian

Yesterday

US employers added just 57,000 new jobs in June, lower than expected

The country’s unemployment rate dropped slightly to 4.2% as US job growth also slowed for the monthSign up for the Breaking News US newsletter emailUS job growth slowed in June as employers added 57,000 new jobs – just about half of what economists had predicted – and the Bureau of Labor Statistics revised its figures from the past two months down by a total of 74,000.The country’s unemployment rate dropped slightly to 4.2%, but the number of unemployed people changed little, according to the latest data, as 720,000 people left the labor force. The bureau revised the unexpectedly high May figures from 172,000 new jobs to 129,000, and revised the April figures from 179,000 to 148,000. Continue reading...

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Appeals Court Blocks Trump Administration from Firing 19 Intelligence Officials Assigned to DEI Jobs

The Gateway Pundit

Yesterday

Appeals Court Blocks Trump Administration from Firing 19 Intelligence Officials Assigned to DEI Jobs

A federal appeals court on Thursday blocked the Trump Administration from firing 19 intelligence officers assigned to DEI jobs. The post Appeals Court Blocks Trump Administration from Firing 19 Intelligence Officials Assigned to DEI Jobs appeared first on The Gateway Pundit.

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MS NOW dumps cold water on new Trump jobs report: 'Half of what we expected'

Raw Story

Yesterday

MS NOW dumps cold water on new Trump jobs report: 'Half of what we expected'

There was more bad news for Donald Trump on Thursday morning as the new jobs report revealed dismal growth, leading MS NOW’s Stephanie Ruhle to raise a new red flag for the president’s embattled administration.Appearing on “Morning Joe,“ Ruhle, a former Wall Street executive, noted that only 57,000 new jobs were created — a far cry from the 115,000 expected by economists.Speaking with host Jonathan Lemire, who warned, “We've seen downward revisions for the last two months,” Ruhle first explained that Trump should not expect a rate decrease from the Fed as the job market remains stagnant.She later elaborated, “People cannot afford to get their lives started; they cannot afford the basic things they need to work to get to work, a place to live, a decent job that's an issue —we're talking about a jobs number that's almost half of what we expected.”“So when the president is posting about 401K’s, people who can't get a job don't have a 401K, don’t have anything to feel good about,” she pointed out."Remember it was [former Fed chair] Alan Greenspan, I think, who said 2006, who said income inequality is going to be the biggest issue,” she continued. “We're watching it play out day in and day out, and it's startling that when the President is faced with it, he keeps saying things like affordability is an old-fashioned term and nobody cares. He doesn't care because he's on his way to the moon when it comes to how successful and how wealthy he has become.” - YouTube youtu.be

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The Jobs Miss

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The Jobs Miss

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