Less jobs and manufacturing down - Signals contraction Posted: Aug 24th, 2019 - 4:48 pm
The economy added 501,000 fewer jobs since 2018 than previously reported, according to a Bureau of Labor Statistics revision. Trump's tax cuts resulted in fewer restaurants, hotels, retailers and professional business services jobs than initially reported. Trump, meanwhile, recently exaggerated that "We've created over 6 million new jobs since the election." Since Trump took office, however, the country has added about 5.7 million jobs. (MarketWatch / New York Times / Washington Post)
- The U.S. manufacturing contracted for the first time since September 2009. The purchasing managers' index was 49.9 in August. Any reading below 50 signals a contraction. (CNBC)
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