‘The Labor Market Is Weakening,’ Head of Job Creators Network Says of August Jobs Report
9/3/23
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from Daily Signal,
9/1/23:
The U.S. unemployment rate increased in August, reaching the highest number since February 2022, according to a Bureau of Labor Statistics report released Friday.
“There’s no question about it now: The labor market is weakening,” Alfredo Ortiz, chief executive officer and president of the Job Creators Network, said in a statement.
“August marks the third consecutive month with fewer than 200,000 jobs created,” he added.
“Prior months’ job creation numbers were also massively revised down by 110,000 in a trend that is becoming commonplace. And real wages grew slower than core inflation, continuing the nation’s decline in living standards,” Ortiz also said.
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