You do not need anyone to affirm that Main Street is in trouble, you can see it all around you. Inflation is crushing blue-collar and white-collar workers as prices continue to rise on essential goods. Consumer spending is now prioritized around the higher cost of housing, energy, gasoline and food. Family earnings are spent before the paychecks arrive for most Main St workers, and now we are starting to see the alarming result economic contraction, beginning with small businesses.
That’s the message within the ADP private sector payroll report released today [DATA HERE], which shows a contraction in small business employment. Economists were looking for private payroll increases in the 300,00 range; but the result was far lower at 128,000. Small businesses lost 91,000 jobs in May. Main Street is in trouble.
WASHINGTON, June 2 (Reuters) – U.S. private payrolls increased far less than expected in May, which would suggest demand for labor was starting to slow amid higher interest rates and tightening financial conditions, though job openings remain extremely high.
Private payrolls rose by 128,000 jobs last month, the ADP National Employment Report showed on Thursday. Data for April was revised down to show 202,000 jobs added instead of the initially reported 247,000. Economists polled by Reuters had forecast private payrolls increasing by 300,000 jobs. (read more)
The Democrats act as though they are unconcerned with the impact this clusterf we are experiencing will have on the mid-term elections. Do they know something we don’t know about the voting?
seems to me the republican party dont seem to give a wet fart either.
Both parties are assholes even in the so-called Freedom Caucus.
Read O’Sullivan’s Law and you’ll be astounded.
This is BY DESIGN!
The DemoNazi Party is at war with America. They have designed a Great Depression that will dwarf the Depression of 1929. Prepare for the worst.
An economic tsunami is coming that I hope will wipe these perfidious scum from the American political scene for the rest of history.
These vile villains have purposefully undermined our economy with a manufactured plague and economic sabotage!
You are spot on.