Slowing of jobs economy in June very troubling

July 7, 2023, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement in response to the latest jobs numbers:

“The Labor Department’s unemployment report signals a slowing of the jobs economy in June.  The most troubling number was the significant increase in people reporting that they had become part-time employees due to slowing or slack economic conditions.  Employers moving their workers to part-time status is the typical cost-cutting path that businesses are forced to pursue as the economy slows.

“It is fair to say that predicting recession off of this one report is unreasonable, but it is important to note alarm bells that go off when reading beyond the top-line unemployment rate numbers.”

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