Job Growth In US Projected To Slow In Second Half Of 2024
The Conference Board, a renowned research group, released a report indicating that job growth in the United States may stall during the second half of 2024. The organization’s Employment Trends Index (ETI), which has a history of successfully tracking employment trends, declined from 112.16 in March to 111.25 in April suggesting a potential slowdown in job growth.
Biden record job growth. pic.twitter.com/IPxpWoAovY
— Barry J Collins (@BJCollins131) May 6, 2024
Several factors contributed to the ETI’s decline, including negative changes in the percentage of respondents finding jobs hard to get the ratio of involuntary part-time workers to all part-time workers and the number of employees hired in temporary positions. “The ETI has been on a downward trajectory since its peak in March 2022 and this month signals a continuation of that trend” said Will Baltrus associate economist at The Conference Board.
This is everywhere throughout the state of Pennsylvania.
People are broke and struggling here from Biden's stagflation. https://t.co/SL9kiEqWWE
— Paul Villarreal (AKA Vince Manfeld) (@AureliusStoic1) May 4, 2024
Despite the concerning trend Baltrus noted that the ETI remains above its pre-pandemic level and is still historically elevated. “However the Index remains historically elevated and is still above its pre-pandemic level which suggests aggregate job losses are less likely than a slowdown in employment growth” he added.
PRESIDENT TRUMP: “We now have BIDEN STAGFLATION — which spells the death of the American Dream.”pic.twitter.com/uX2DuDOslz
— RNC Research (@RNCResearch) May 1, 2024
BIDENOMICS:
“In April, employment for US small businesses with 1-9 employees DECREASED by 23,700 jobs compared to March — continuing the trend of negative year-over-year growth.” pic.twitter.com/Szht1RPbpl
— RNC Research (@RNCResearch) May 7, 2024
The Conference Board projects that slowing consumer demand for goods and services will be the primary driver of rising unemployment in the coming months. This potential slowdown in job growth comes amid concerns about stagflation as the U.S. economy faces low GDP growth and persistent inflation.
The American Middle Class is being punished while the Biden Admin bragging about GDP growth.
Americans can't eat or pay rent with GDP numbers.
– 1/3rd of Americans are working 2d jobs
– Credit Card debt at highest levels in history.
– More Middle Class falling into poverty.
-… pic.twitter.com/2wZTTxxcF5— Grant Cardone (@GrantCardone) May 8, 2024