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11/01/2024
In October, the economy added just 12,000 jobs β FAR below economists' expectations and the fewest monthly jobs added since Kamala took office.
Here's what you need to know:
Kamala killed 46,000 manufacturing jobs last month and 85,000 jobs over the past six months.
Manufacturing industrial production is down -0.5% from one year ago.
The number of job openings in the manufacturing sector has cratered by -20.8% (-126,000 jobs) over just the past year.
773,000 native-born Americans have LOST employment over the last year β while one million foreign-born workers have gained employment.
402,000 native-born Americans have LEFT the labor force over the last year β while 1.2 million foreign-born workers have joined the labor force.
28,000 jobs were LOST in the private sector last month. If you subtract government jobs, October would be the first month of job losses since December 2020.
Last month saw job losses in: transportation and warehousing (-3,700 jobs), retail trade (-6,400 jobs), utilities (-1,700 jobs), professional and business services (-47,000 jobs), and leisure and hospitality (-4,000 jobs).
"Gains" in August and September were revised DOWN by 112,000 jobs.
Nearly seven million Americans are unemployed β up from 6.4 million just one year ago.
Labor force participation FELL last month as the labor force participation rate remains well below pre-pandemic levels.
Kamala broke the economy β President Trump will fix it.
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