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Economic doldrums [1]
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Date: 2025-09-03
This came in from Bloomberg today:
It’s only the third day of a much-feared month of September and sobering US economic news is already piling up. Yesterday it was six straight months of shrinking manufacturing. Today it’s job openings falling in July to the lowest in 10 months, adding to other employment data (including a report last month that caused Donald Trump to fire the head of the Bureau of Labor Statistics) showing America’s once-robust post-pandemic jobs landscape continues to darken.
Even worse, the sectors most responsible for the new numbers aren’t cyclical and had been recent drivers of growth. Available positions decreased to 7.18 million from a downwardly revised 7.36 million in June, according to data published Wednesday by the BLS, a division of the US Department of Labor. The median estimate in a Bloomberg survey of economists called for 7.38 million openings.
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