It was not a good report, but I put more blame on the Fed's restrictive interest rate stance rather than Trump policy.
Posted on 09/06/2025 6:11:50 AM PDT by karpov
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) Read more at wsj.com ...
They’re blaming tariffs. There’s much more going on as the economy today is a reflection of the last four or five years of wildass craziness. Factor in the government pushed building loans when there was not a huge demand for buildings. We’ve overbuilt and it will take time for the economy to grow enough to absorb the extra. Factor in interest rates that are depressing activity. So, no, not all tariffs.
Unemployment is low and real wages are up. Gas prices in particular have been quite low historically during summer months. Me must look look at the broad situation of the US as compared to everyone else in the world.
And finally, we must always remember that at the end of the day, the WSJ never met a war or an act of corporatism that they didn’t like.
What a load of crap.
The deficit is down 25%. IOW, government spending isn’t on overdrive as much as it was under FJB.
Were the China Street Clown Town trash complaining then? With 10%/yr inflation and trillions in added debt?
The credit card was maxed out and Trump is pulling industries back to the US while working to prevent the post spending binge collapse.
Nobody listens to WSJ globohomo crap anymore. According to them, if a Chinaman somewhere anywhere isn’t doing a job an American used to do, the world is gonna end.
“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.”
Job numbers always drop in the summer.
So I guess the illegals getting deported aren’t doing the jobs Americans didn’t want to do.
There are two other important factors
1. Because of deportations, including self deportations, the US has a net decrease in population.
2. Government job cuts have been extensive at all levels.
Both good things. Wages vs. Inflation is a much better indicator of our economic health.
This isn’t an article.
It was written by the rag’s editorial board.
It reads like an advertorial for Deep State.
WSJ? That means instant eye roll.
The economy was always going to have to pay the price for the Biden Administration's profligacy. And Trump was always going to take the blame from the MSM, regardless of the circumstance. Add in the motivation of many big players to "make the bad stuff happen now, while Trump is in charge" and you have a perfect storm brewing.
Dropping a bolder into a pond creates waves. They run to shore, the reflect back. This happens many times before the water becomes flat and mirror like again.
The spending by the Federal Government under Joe Biden was an enormous economic impact. The classic Keynesian economic model of just printing and passing out currency has long standing devastating effects. The devaluation of the currency is still ongoing, rippling through to small businesses. Employees need higher wages to pay higher bills, and those costs reverberate across the nation. Trumps energy policy has been the biggest ‘price’ stabilizer, but the effects of unbridled spending is damaging the national still. We are absolutely seeing the ripples of the Biden Administration, Keynesian economics, and a Congress that enabled them both.
Trump, IMHO, has done more to save the United States than any President in my lifetime, and potentially ever, save George Washington. The evil of “throwing gold bricks off the Titanic” economics ALMOST ended social security, the economy, most elder lies health care, and the opportunity of a new generation. I am thanking God that so many young Americans have grasped the attempt by the Democrats to destroy the Constitution and any chance they had at individual opportunity and self determination. They are registering ‘Republican’ in droves and the Democrats know it.
I fully expect a hiring slowdown, AI and Robot economic rise, and anticipate the new generation to fully capitalize on this brave new economic world. The rising economic waters will not be ripples from Socialist Democrat malevolent and greedy individuals. No, It will be founded in investments, innovation, production, and new industries. The new job numbers do not frighten me, I see a bright future for my nation and its citizens developing from fundamental as we ponder the ‘numbers’.
Finally, and potentially most critically I ask a question. If you finally get honest numbers from government after fake numbers since Jan 2009, how do you see a trend? What do those numbers mean?
Tariff uncertainty is caused by the courts, nothing else
I categorically distrust anything from the WSJ regarding Trump.
Their TDS is off the charts.
yep. the Fed needs to cut at least 50bps imo.
Here comes the cope from the economic illiterate
Holy irony with that screename you have. Milton would be embarrassed by “conservative” tariffs
I do with these self-proclaim economic geniuses would explain to me how bad trade deals were good for the economy.
Summer is over anyway
Notice how these Chinese propagandist shills at the Wall Street Journal (owned by anti-Trumper Rupert Murdoch) throw in the words “Most businesses”, as if they know that for a certainty.
These insufferable clowns want to continue gigantic trade imbalances forever, while the USA goes deeper and deeper into debt.
Rupert Murdoch is a foreigner, a globalist, an oligarch, a shill for the ChiComs. He puts America last. He should not be allowed to own ANY companies or real estate in the USA. Trump needs to declare Murdock a terrorist. /spit
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