Latest jobs numbers: Troubling or short-term blip?

Sept. 7, 2018, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement on the latest jobs numbers:

“President Trump is not going to be judged on the traditional unemployment rate. He is going to be judged by the amount of people who are being brought back into the economy who had been left behind. To say that this jobs report is troubling would be an understatement, however, as it eviscerates many of the gains that have been made with new people in the workforce and the amount of people working. Labor participation dropped from 62.9 percent to 62.7 percent as those not in the labor force increased by 692,000.

“We strongly hope that this is an anomaly owed to the summer ending and many part-time employees and students heading back to school. The Federal Reserve should be very cautious before raising interest rates any more until we discover whether this report is the beginning of a trend or a temporary bump in the road.”

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