On top of this, companies like T-Mobile announced upcoming layoffs in August, hence contributing to the demand of folks seeking job opportunities. Additional data tracking employment last month also revealed a cut in warehousing and transportation positions.
Buckle up, America
Unfortunately, all signs indicate that much of the United States will continue to struggle economically. The possibility of more jobs being automated out is another factor that may contribute to the rise of unemployment later down the line.
On the other hand, some officials are trying to see the bright side of last month’s jobs report. Earlier today, the Biden administration released a statement, contending that the economy is in the process of building from the “bottom up” and “middle out,” rather than the “top down.”
Notwithstanding this spin, much of the country remains displeased with the current White House’s management of the economy. For instance, a poll from AP-NORC revealed only 36% of adults in this country favor Biden’s economic management style.
