The U.S. produced 156,000 new jobs in August, well below Wall Street’s forecasts causing the United States economy to wobble a bit.
Economists had predicted a 170,000 increase in nonfarm jobs. The unemployment rate rose to 4.4% from 4.3%. This isn’t the first time Trump has failed to hit employment target.
Although wages increased by 3 cents to an average of $26.39 an hour, there are more unhappy workers now than at anytime in the past 17 years. Hourly pay increased 2.5% from August 2016 to August 2017, but remained unchanged from the prior month.
Under the Trump regime the average workweek has dipped 0.1 hour to 34.4 hours. Less hours means less money in the wallet of the average working American.
The government cut the official record of new jobs created in July by 20,000 jobs from to 189,000 from 209,000. June’s gain was also “re-adjusted” from 210,000 from 231,000.
Among the major worker groups, the unemployment rates for adult men (4.1 percent), adult women (4.0 percent), teenagers (13.6 percent), Whites (3.9 percent), Blacks (7.7 percent), Asians (4.0 percent), and Hispanics (5.2 percent) show the bias in hiring that has been rampant under Trump.
The hits just keep on coming from the worst administration in the history of the world.