Underwhelming Rate of Hiring in the Midst of Trade War
The Labor Department recently announce that the unemployment rate is currently resting at 3.7%, marking a historic low. However the rate of hiring is down significantly from an average of 192,000 new jobs a month in 2018 to 143,000 new jobs a month in 2019. More specifically, the mining industry lost 5,000 jobs in August and factory production is becoming severely anemic as it continues a downward trend toward a looming recession for two consecutive quarters. President Trump blames the Federal Reserve for the decrease in economic growth. However, economists fear that the US’s Trade War with China is a more significant factor in the stalling economy.
See "Underwhelming Rate of Hiring in the Midst of Trade War", Dominic Rushe, The Guardian, September 6, 2019