Job Creation: Transportation Sectors and Job Cuts

job creation: The figures also will be revised. ; Job creation was the slowest since September 2017, which adds to widespread reports from firms nationwide complaining that worker shortages are beginning to impede growth in their businesses, according to The Japan Times. Despite the drop, the unemployment rate fell and hourly wages saw their biggest gains in nearly a decade, more evidence of the tight labor market. But after the unusually dramatic swing in the critical monthly data, economists whose forecasts missed badly hastened to say that underlying employment trends remained strong, and they highlighted the hefty boost in worker pay. The sudden collapse in hiring including deep job cuts in the construction retail and transportation sectors is sure to revive worries about the dwindling supply of American workers. Economists had been projecting a far stronger 173,000 gain. U.S. employers added just 20,000 net new positions for the month, only a fraction of what economists had been expecting, while unemployment fell two-tenths to 3.8 percent, its lowest level since October, according to the closely watched Labor Department report. (news.financializer.com). As reported in the news.