Hassett Blames World Cup, Government Cuts for Weak Jobs Data (SHY:NASDAQ)
11 Articles
11 Articles
By David Goldman and Matt Egan, CNN David Goldman and Matt Egan report on the economy for CNN. This is their text-by-text conversation about this month's employment report.David Goldman: Hello, Matt! Friday's employment report turned out to be...let's say it's not encouraging. Have we returned to that “mediocre economy” of stagnant growth The post How could the weak employment report make it difficult to manage inflation in the U.S.? appeared fi…
Trump Econ Chief Shrugs Off Startling Jobs Report With World Cup Explanation
President Donald Trump’s economic chief Kevin Hassett used the World Cup to explain away the poor employment report that saw the U.S. losing 23,000 jobs in July. The report, put out by the Bureau of Labor Statistics, showed the unemployment rate dropping from 4.2% to 4.1%, but economists believe that’s due to fewer people looking for work. In addition, May and June jobs numbers were revised down by 103,000 jobs. On Fox News’s America’s Newsroom,…
July’s Jobs Report Is Ugly. Strip Out the World Cup Hangover and It’s Even Uglier
The S&P 500 keeps grinding to new highs, and if you only checked your brokerage app this morning, you’d think the economy was firing on all cylinders. It isn’t. The Bureau of Labor Statistics just released its July jobs report, and the headline number — a loss of 23,000 jobs — marks the third-worst month ... July’s Jobs Report Is Ugly. Strip Out the World Cup Hangover and It’s Even Uglier
Hassett: The Jobs Report Would Look Great If You Deleted All The Bad Parts
Appearing on Fox News, National Economic Council Director Kevin Hassett tried to explain away the latest disappointing jobs report by arguing the losses came down to two factors: government layoffs and a post-World Cup hiring slowdown. Construction and manufacturing, he said, were still strong. Strip those two categories out, Hassett argued, and "you actually had a number that was about plus 100,000" — roughly in line with recent trends. In othe…
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