Economy
JOBS REPORT: Nearly 500k fewer payrolls than expected in August, economists worry
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Only 235,000 new payrolls were added nationwide in August according to the latest jobs report. Dow Jones experts expected it to rise to 700,000. Jobs have yet to recover the same number of jobs lost in April 2020, even 16 months later.
First, the hospitality and leisure industry led in most new payrolls over the past six months. Hospitality and leisure alone provided roughly 350,000 jobs each month, more than all of August. Now, the industry boasts an unemployment rate of 9.1%, nearly four points higher than the nationwide rate of 5.2%. Across the nation unemployment dropped only by 0.2% since July. Next, professional and business services contributed the most jobs in August with 74,000.
A minority, roughly 400,000 in August, blamed a pandemic-related reason was keeping them from work. The total using the excuse is 5.6 million. There are 8.4 million unemployed Americans total. Today 3.2 million have remained unemployed for over 27 weeks. That’s roughly 240,000 less than July. But it’s still 2.1 million higher than it was in February 2020.Unemployment overall is still lower than it was before March 2020. Employment placement firm Indeed estimates there are 10.5 million job openings currently.
Donald Trump Jr. reacted to the report in a tweet Friday. “Another disastrous economic report for the administration,” Trump said. “How long do you think this is sustainable for?”
Meanwhile wages rose 4.3% on a year-over-year basis. They also rose 0.6% since last month.
You can follow Jenny Goldsberry on Twitter @jennyjournalism.
More Democrat leaders from non-border states are wising up to the immigration crisis our nation faces. Woburn mayor Scott Galvin, of the progressive state of Massachusetts, is hoping that lawmakers will overturn a 40-year-old law because the reality of being “bleeding heart liberals” is resulting in the demise of his town.
The 40-year-old “right-to-shelter” law has got to go, says mayor Galvin, because of the immense strain the thousands of migrant families are putting on the area’s residents. By Friday, there were about 150 families living in the city’s hotels, an “unsustainable” arrangement for his 40,000 constituents.
Galvin told the New York Times the right-to-shelter law, which only exists in Massachusetts, was “passed at a different time, and was not meant to cover what we’re seeing now.”
National Review reports:
Under the 1983 right-to-shelter law, Massachusetts officials are legally required to offer housing to any homeless families seeking shelter in the state. The law now covers a rising influx of migrant families, although individuals are not covered under its provisions.
“We’re going above and beyond, while some communities around us are not being impacted, and we don’t have endless capacity in our schools,” said Galvin. “The benefits that are bestowed on migrants make the state a very attractive destination, and without some changes, this challenge is not going to abate.”
Massachusetts Democrat Governor Maura Healey already declared a state of emergency on August 8th, requesting help from the federal government. On August 31, Healey activated up to 250 Massachusetts National Guard members to assist the more than 6,000 migrant families already in the state’s shelter system.
Approximately 6,300 families are living in emergency shelters and hotels across the state, up roughly 50 percent from the year prior. The cost for such accommodations for all the migrants is approximately $45 million per month, National Review reports.
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