US economy shows signs of 'paralysis' as new data reveals hiring slowdown, activity contraction in May

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Cypress

Well-known member

US economy shows signs of 'paralysis' as new data reveals hiring slowdown, activity contraction in May​


For months, US economic data has shown resilience, with layoffs remaining low and business activity staying steady despite fears over policy uncertainty. But the tide may be shifting. Multiple data points this week have shown signs of slowing as a wide swath of tariffs has been in effect.

On Thursday, weekly filings for unemployment benefits hit their highest level since October 2024, adding to a slew of data showing a cooling economy leading into the Friday morning release of the May jobs report.

Earlier in the week, the Institute for Supply Management's Services PMI registered a reading of 49.9 in May, below the 51.6 seen in April. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. May's data marked just the fourth time the services sector has fallen into contraction in the past five years.


 
Cypress said:

US economy shows signs of 'paralysis' as new data reveals hiring slowdown, activity contraction in May​


For months, US economic data has shown resilience, with layoffs remaining low and business activity staying steady despite fears over policy uncertainty. But the tide may be shifting. Multiple data points this week have shown signs of slowing as a wide swath of tariffs has been in effect.

On Thursday, weekly filings for unemployment benefits hit their highest level since October 2024, adding to a slew of data showing a cooling economy leading into the Friday morning release of the May jobs report.

Earlier in the week, the Institute for Supply Management's Services PMI registered a reading of 49.9 in May, below the 51.6 seen in April. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. May's data marked just the fourth time the services sector has fallen into contraction in the past five years.


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When Trump took office the unemployment rate was 4.1% the employment rate last month was 4.2% . I'm not going to get too upset by a 0.1% increase considering we are laying off a lot of government employees that Biden hired.
 
Cypress said:

US economy shows signs of 'paralysis' as new data reveals hiring slowdown, activity contraction in May​


For months, US economic data has shown resilience, with layoffs remaining low and business activity staying steady despite fears over policy uncertainty. But the tide may be shifting. Multiple data points this week have shown signs of slowing as a wide swath of tariffs has been in effect.

On Thursday, weekly filings for unemployment benefits hit their highest level since October 2024, adding to a slew of data showing a cooling economy leading into the Friday morning release of the May jobs report.

Earlier in the week, the Institute for Supply Management's Services PMI registered a reading of 49.9 in May, below the 51.6 seen in April. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. May's data marked just the fourth time the services sector has fallen into contraction in the past five years.


Click to expand...
Crazy Trump handled the economy by shooting before aiming, and now the consequences for Trump's folly is going to be felt by all.
 
FastLane said:
considering we are laying off a lot of government employees that Biden hired.
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Trump is frantically hiring back federal employees he previously fired, probably to prop up the anemic job creation numbers he is posting.


C

Thread 'The Trump administration is scrambling to rehire many federal employees dismissed under DOGE'

Trump administration races to fix a big mistake: DOGE fired too many people​

Across the government, officials are rehiring federal workers who were forced out or encouraged to resign.

After Elon Musk bought Donald Trump a second term in office, the president granted his benefactor the power to indiscriminately fire thousands of federal employees under the guise of saving taxpayer money. But as it turns out, letting a “move fast and break things” billionaire can whomever he pleased—including individuals with decades of institutional knowledge—wasn’t the best idea. In fact, one...
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Cypress said:
Trump is frantically hiring back federal employees he previously fired, probably to prop up the anemic job creation numbers he is posting.


C

Thread 'The Trump administration is scrambling to rehire many federal employees dismissed under DOGE'

Trump administration races to fix a big mistake: DOGE fired too many people​

Across the government, officials are rehiring federal workers who were forced out or encouraged to resign.

After Elon Musk bought Donald Trump a second term in office, the president granted his benefactor the power to indiscriminately fire thousands of federal employees under the guise of saving taxpayer money. But as it turns out, letting a “move fast and break things” billionaire can whomever he pleased—including individuals with decades of institutional knowledge—wasn’t the best idea. In fact, one...
  • Like
  • Finger!
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I hope they ask for more money in order to return.
 
Cypress said:
Trump is frantically hiring back federal employees he previously fired, probably to prop up the anemic job creation numbers he is posting.


C

Thread 'The Trump administration is scrambling to rehire many federal employees dismissed under DOGE'

Trump administration races to fix a big mistake: DOGE fired too many people​

Across the government, officials are rehiring federal workers who were forced out or encouraged to resign.

After Elon Musk bought Donald Trump a second term in office, the president granted his benefactor the power to indiscriminately fire thousands of federal employees under the guise of saving taxpayer money. But as it turns out, letting a “move fast and break things” billionaire can whomever he pleased—including individuals with decades of institutional knowledge—wasn’t the best idea. In fact, one...
  • Like
  • Finger!
Click to expand...
He is trying to get back the people that know what they were doing and some of them aren't going back, they don't trust him any more if at all.
 
Cypress said:
Trump is frantically hiring back federal employees he previously fired, probably to prop up the anemic job creation numbers he is posting.

C

Thread 'The Trump administration is scrambling to rehire many federal employees dismissed under DOGE'

Trump administration races to fix a big mistake: DOGE fired too many people​

Across the government, officials are rehiring federal workers who were forced out or encouraged to resign.

After Elon Musk bought Donald Trump a second term in office, the president granted his benefactor the power to indiscriminately fire thousands of federal employees under the guise of saving taxpayer money. But as it turns out, letting a “move fast and break things” billionaire can whomever he pleased—including individuals with decades of institutional knowledge—wasn’t the best idea. In fact, one...
  • Like
  • Finger!
Click to expand...

Tbird19482 said:
He is trying to get back the people that know what they were doing
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So Trump fucked up and crippled important government functions.
 
Tbird19482 said:
He may have not " crippled " gov. functions but with slowing response times and not having people in place that know what they are doing he did hurt a lot of people.
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FEMA is missing in action, and the National Weather Service, the USDA food safety inspection program, and National Hurricane Center are massively understaffed, and unable to operate on all cylinders.
 
Cypress said:

US economy shows signs of 'paralysis' as new data reveals hiring slowdown, activity contraction in May​


For months, US economic data has shown resilience, with layoffs remaining low and business activity staying steady despite fears over policy uncertainty. But the tide may be shifting. Multiple data points this week have shown signs of slowing as a wide swath of tariffs has been in effect.

On Thursday, weekly filings for unemployment benefits hit their highest level since October 2024, adding to a slew of data showing a cooling economy leading into the Friday morning release of the May jobs report.

Earlier in the week, the Institute for Supply Management's Services PMI registered a reading of 49.9 in May, below the 51.6 seen in April. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. May's data marked just the fourth time the services sector has fallen into contraction in the past five years.


Click to expand...
Business owners don't know what to do since they can't predict what mania Trump will come up with next. Ergo, they are sitting on their cash assets and getting ready for a storm.
 
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