American Bridge President Jessica Mackler released the following statement as the March jobs report was widely panned:
“Donald Trump is selling out American working families with an agenda that betrays his populist rhetoric from the campaign. The president lied when he promised to be one of the most prolific job creators in history. In reality he’s only fighting for the wealthiest Americans with no job creation plan for the rest of the country.”
American Bridge has also kept track of the over 60,000 announced layoffs during the first 75 days of Donald Trump’s presidency at TrumpEconomy.com.
ECONOMISTS:
Barclays Economist Rob Martin: “It Was A Disappointing Report With No Silver Lining In The Details.” According to the New York Times, “The latest report will only add to the debate over whether so-called soft data, like stronger sentiment among businesses, is actually prompting companies to hire more workers. March’s data suggests it isn’t, as does the 38,000 downward revision in estimated job creation in February and March. ‘It was a disappointing report with no silver lining in the details,’ said Rob Martin, an economist at Barclays. ‘Service-sector employment weakeness points to a substantial slowdown in activity.’” [New York Times, 4/7/17]
Brookings Institution and Johns Hopkins University Economist Jonathan Wright: “Slowdown in employment growth in March, however you measure it” [Brookings Institution, 4/7/2017]
Think Markets Chief Market Analyst Naeem Aslam: “Makes Your Jaw Drop.” According to CNBC, “Nonfarm payrolls grew by just 98,000 in March though the unemployment rate fell to a 10-year low of 4.5 percent, according to a closely watched report Friday from the Bureau of Labor Statistics. Payrolls had been expected to increase by 180,000 in March, according to economists surveyed by Reuters. ‘What a number. This makes your jaw drop,’ said Naeem Aslam, chief market analyst at Think Markets.” [CNBC, 4/7/17]
COVERAGE:
Politico: “The jobs report is bad news for Trump as he struggles to recover from the defeat of Obamacare repeal, multiple brewing investigations into his presidential campaign’s contacts with Russia and reports of debilitating rivalries among White House staff and in the agencies.” [Politico, 4/7/2017]
NBC News HEADLINE: “Jobs Growth Slowed in March, 98,000 vs 180,000 Expected” [NBC News, 4/7/17]
New York Times HEADLINE: “Job Growth Loses Steam as U.S. Adds 98,000 in March” [New York Times, 4/7/17]
MarketWatch HEADLINE: “As jobs growth sinks in March, millions of Americans are desperate to work full-time” [MarketWatch, 4/7/
USA Today HEADLINE: “Big jobs miss: Employers add disappointing 98,000 jobs in March” [USA Today, 4/7/17]
The Atlantic HEADLINE: “The March Jobs Report Misses Expectations” [The Atlantic, 4/7/2017]
NPR HEADLINE: “Only 98,000 New Jobs Were Created In March, Labor Department Says” [NPR, 4/7/17]
Chicago Tribune HEADLINE: “Job growth tumbles as U.S. employers add just 98K jobs in March; unemployment rate falls to 4.5 percent” [Chicago Tribune, 4/7/17]
Steve Goldstein, MarketWatch: “It’s unprecedented to see this kind of destruction in retail jobs at a time when the economy is doing okay “ [Twitter, 4/17/2017]
Marianne Levine, Politico: “Both Republicans and Democrats acknowledge March’s jobs report was disappointing” [Twitter, 4/7/
Published: Apr 7, 2017