Ominous Private Jobs Reports
On Friday, the government will release the September jobs report, and some economists are bracing for the worst: a decrease in overall private employment and an
Jul 31, 2020177.9K Shares6.3M Views
On Friday, the government will release the September jobs report, and some economists are bracing for the worst: a decrease in overall private employment and an increase in the unemployment rate, more evidence of a persistent stall-out in the recovery.
Two reports released this morning give fuel to those worries. Payroll processing firm ADP saidprivate-sector employers cut 39,000 jobs last month, more than economists expected. In August, the private sector added 10,000 jobs. And a [separate report](javascript:__doPostBack('GridView1$ctl02$lnkSelect','')) (PDF) from outplacement firm Challenger, Gray & Christmas showed that private and public employers planned to cut 7 percent more jobs in September than in August, though both numbers were near historical lows.
More job cuts, and more planned job cuts. That demonstrates that employers remain loath to add on workers, given the economy-wide lack of demand. And it means the unemployment rate will remain high.
Dexter Cooke
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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations.
As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all.
Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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