Most working Americans are better off now than they were when the reign of Trumpery ended with a dismal 34% public approval.
With inflation easing, the wages of working-class Americans are finally moving into the plus column. Average hourly pay for production and nonsupervisory workers — who make up four-fifths of employees — hit $30.27 in August, according to the latest report from the Bureau of Labor Statistics.
According to my organization’s analysis, working-class Americans’ wages, adjusted for inflation, have just edged higher than they were on Election Day, 2020. The average working-class American can now answer “Yes” to the question, “Are you better off now than you were under Trump?”
U.S. employers added just 73,000 jobs last month as companies paralyzed by uncertainty over President Donald Trump's erratic tariffs policies.
The Labor Department reported Friday that revisions shaved a stunning 258,000 jobs off May and June payrolls.
ranks of the unemployed rose by 221,000
Manufacturers cut 11,000 jobs last month after shedding 15,000 in June and 11,000 in May.
Healthcare companies added 55,400 jobs last month – accounting for 76% of the jobs added in July and offering another sign that recent job gains have been narrowly concentrated.
The department originally reported that state and local governments had added 64,000 jobs in education in June. After the revisions released Friday, that number fell to below 10,000.
The stock market tumbled on the news.
The current situation is a sharp reversal from the hiring boom of just three years ago when desperate employers were handing out signing bonuses and introducing perks such as Fridays off, fertility benefits and even pet insurance to recruit and keep workers.
The rate of people quitting their jobs — a sign they’re confident they can land something better — has fallen from the record heights of 2021 and 2022