U.S. Embassy Issues a Warning to Americans As Hezbollah Keeps Firing Missiles
Everything Leftists Do Is Because They Hate Us
Tim Walz's Hunting Trip Was an Absolute Nightmare
New NBC News Poll Shows Why Dems Wanted to Keep Kamala Away From...
The Harrowing Reason Why This Progressive Host Left the Dems
US Sends Anti-Missile System, Troops to Israel
Mask Mandates Are Coming Back in One State
'Listen to Your Question!': Johnson Calls Out NBC Host for What She Focused...
Fetterman Issues Warning to Dems About Musk
This Liberal Outlet Just Called Out Kamala Harris for Dodging Interviews
Flashback: Here’s What Kamala Harris Said About Eliminating Columbus Day
Trouble in Paradise? Growing 'Tensions' Reported Between Biden and Harris Camps
The Woke Mob Is Furious Over These Heinz Ads
God Called People Far Worse than Trump to Do Great Things, Like Paul...
Democrats Ponder the Hail Mary
OPINION

It's All About The Jobs Man

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Advertisement
Advertisement
Advertisement

Initial claims for the week ending May 28 fell to 267,000, a decline of 1,000 but lower than the expectation of 270,000. This marks 65 consecutive weeks that the initial claims have been below 300,000. The 4 week moving average, a better gauge was down 1,750 to 276,750.

Advertisement

In May, the private sector added 173,000 new jobs, according to ADP and Moody’s Analytics, less that the 175,000 expected, but higher than the revised 166,000 jobs from April. Year to date, the average has been 188,000 jobs. The gains this month continue to stem from the services sector, which has added 175,000 of the total jobs, manufacturing lost 3,000 and goods-producing companies declined by 1,000.

  • Small 1-49 Employees + 76,000
  • Midsized 50-499 Employees +63,000
  • Large 500 or more Employees + 34,000

According to outplacement firm Challenger, Gray & Christmas, layoffs in the U.S. were at a 5 month low falling to 30,157, representing a decline of 27% from a year ago, and are at the lowest level since December. Year to date, 275,218 jobs have been lost in 2016, which is 13% more the same period in 2015. Leading the cuts again was the energy sector with 7,572 in May, but 60% fewer cuts than in April. Year to date, energy companies have cut 75,232 jobs, 25% more than January through April last year. “Outside of the energy sector, summer can be a time when major business decisions are set aside as companies take stock of strategies initiated in the first quarter. This is also a time when the general pace of business can slow as many employees, including key decision makers, take vacations, and enjoy the fruits of their labors,” said John Challenger, CEO of Challenger, Gray and Christmas.

Advertisement

OPEC decided on no change in policy and no ceiling. The new Saudi Oil Minister Khaled al-Falih, says future production cuts maybe be possible, but not now. Really? Wow, what a surprise.

The ECB left rates unchanged as expected.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos