Latest news with #Vistage
Newsweek
25-07-2025
- Business
- Newsweek
Map Shows Cities With the Best Job Markets
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Today's job market is rife with economic uncertainty, AI disruption and widespread layoffs from government agencies to tech giants. However, where you live can play a major role in the job market you are navigating. In a new report, Checkr ranked the 100 largest U.S. cities based on job opportunities and earnings potential. While cities like Raleigh, North Carolina. topped the list, residents in Bakersfield, California are facing more challenges in finding a job. Why It Matters Businesses have reached a record low for hiring, according to executive coaching and advisory firm Vistage. In a recent report, Vistage said only 42 percent of surveyed small and midsize business CEOs anticipate increasing their employee headcount in the year ahead. That marks the lowest level since the second quarter of 2020 and is down from 45 percent in the first quarter of 2025. What To Know The top five cities with the best job markets in 2025, according to Checkr, were Raleigh; Nashville, Tennessee; Austin, Texas; Salt Lake City, Utah; and Portland, Maine. While Raleigh boasted strong tech and biotech industries, proximity to top-tier universities and steady population growth, the city also offers varied high-wage opportunities and relatively affordable housing. Nashville was a strong source of health care and entertainment jobs, along with a multitude of startups and "cultural draw," Checkr said in its report. Austin, another Southern city in the top five, had a notable tech expansion and offers many high-paying jobs and a startup-friendly environment. Meanwhile, the bottom five list included Bakersfield; Scranton, Pennsylvania; McAllen, Texas; Fresco, California; and Memphis, Tennessee. "What still feels like a conundrum is how two cities just 200 miles apart—Memphis and Nashville—can have such drastically different outcomes," Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek. Bakersfield experienced a high unemployment rate and generally saw lower education attainment rates. Scranton is still recovering from industrial decline and McAllen saw consistently low wages and lack of high-growth industries. "The problem for cities like these [is] problems tend to grow with time, as fewer jobs and opportunities for higher income lead some to leave these cities and others to rule out these locations as viable places to live," Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek. Checkr ranked the cities based on new data from the U.S. Census Bureau, the Bureau of Labor Statistics and the Bureau of Economic Analysis. This included factors like income growth, unemployment rate and even the percentage of households earning more than $200,000. The Austin Food & Wine Festival at Auditorium Shores on November 2, 2024, in Austin, Texas. The Austin Food & Wine Festival at Auditorium Shores on November 2, 2024, in Austin, People Are Saying Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "When it comes to cities in the United States with excelling job markets, it's still largely a story of the usual suspects. Cities like Nashville, Austin and Raleigh that have benefited from booming economies and a sharp rise in population in the years leading into and during the pandemic continue to see more employment opportunities at better wages. Other cities like Jackson, Mississippi, and Toledo, Ohio, continue to struggle, as job and salary growth remain relatively low compared to the rest of the country." Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "Cities seeing growth typically have strong sectors like tech or health care. Meanwhile, cities like Rochester and Scranton—parts of the old Rust Belt—are still feeling the effects of industrial decline. Many of the manufacturing jobs that once supported those regions have moved overseas." What Happens Next Thompson said in the regions that are struggling, low wages and limited wage growth are the common threads. "It's becoming a theme across the country—employers remain hesitant to raise wages, which either pushes talent to relocate or forces industries to shrink or move abroad," he said. "That's a major reason manufacturing left in the first place: cheaper labor elsewhere. I'd like to think the outcome would be higher wages here at home, but honestly, that still feels like a pipe dream."
Associated Press
22-07-2025
- Business
- Associated Press
Christine Hopkins Receives 2025 Vistage Leadership Award for Transformational Leadership and Business Resilience
Christine Hopkins, President, CEO, & Managing Owner of the ASCI Family of Companies, is the recipient of the Vistage 2025 Leadership Award for Alaska region 'Christine exemplifies what it means to lead with clarity, courage, and conviction'— Rick Wolk, Vistage Chair ANCHORAGE, AK, UNITED STATES, July 22, 2025 / / -- Vistage, the world's largest CEO coaching and peer advisory organization for small and midsize businesses, has named Christine Hopkins, President, CEO, and Managing Owner of the ASCI Family of Companies, as the recipient of its 2025 Leadership Award for the Alaska region. The Vistage Leadership Award celebrates exceptional leaders who demonstrate bold vision, purpose-driven leadership, and a profound impact on their organizations and communities. Hopkins leads the ASCI Family of Companies, which includes Advanced Supply Chain International LLC and ASCI Federal Services LLC. Headquartered in Anchorage, ASCI is a woman-owned small business delivering mission-critical supply chain, logistics, and asset management services to both federal and commercial clients nationwide. Her leadership journey, rooted in Human Resources and honed through real-world adversity, became transformational in 2020 when the company lost its largest client at the onset of the COVID-19 pandemic. Facing a projected 90% revenue loss, Hopkins chose not to shut the company down. Instead, she led a strategic pivot from commercial services to federal contracting: restructuring operations, building new competencies, and guiding the company into a new era of sustainable growth. 'Vistage gave me the tools, the peer community, and the perspective I needed to lead through crisis, not with fear, but with purpose and personal accountability,' said Hopkins. 'This award reflects the courage and commitment of our entire team at ASCI.' Since implementing this bold transformation, ASCI has grown from 7 to over 60 team members and expanded annual revenue from $1.4 million to a projected $7.9 million in 2025. In addition to winning a $25 million federal contract with the Fleet Readiness Center East, ASCI continues to invest in systems, culture, and workforce development, including active advocacy for veteran and military spouse employment through initiatives like the Military Spouse Employment Partnership (MSEP) and the SkillBridge program. 'Christine exemplifies what it means to lead with clarity, courage, and conviction,' said Rick Wolk, her Vistage Chair. 'She has transformed not only her company, but the lives of her team and the communities they serve. She successfully navigated a very, very difficult path and did that with humility and grace. Our Vistage group is better because of Christine.' Hopkins was also recently named the 2025 SBA Alaska Small Business Person of the Year, further recognizing her impact on Alaska's economy and small business community. About ASCI Advanced Supply Chain International LLC and ASCI Federal Services LLC are part of the ASCI Family of Companies, based in Anchorage, Alaska. Since 1999, ASCI has provided supply chain and asset management consulting and services to commercial and government customers. The company specializes in procurement, contracting, warehousing, inventory management, transportation coordination, and surplus material disposition. To learn more about the ASCI Family of Companies, visit About Vistage Vistage is the world's largest CEO coaching and peer advisory organization for small and midsize businesses. For more than 65 years, Vistage has helped business leaders solve their greatest challenges through confidential peer groups and executive coaching. Today, more than 45,000 members in 35 countries rely on Vistage to grow their companies and lead with greater impact. For more information about Vistage, visit Rosita Johnson ASCI Family of Companies [email protected] Visit us on social media: LinkedIn Instagram Facebook Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
The Herald Scotland
13-07-2025
- Business
- The Herald Scotland
Economy expected to approach stall speed as tariffs hurt consumers
In the spring, Trump announced a 90-day pause on high double-digit reciprocal tariffs for China and many other countries, easing recession fears and reversing a stock market sell-off. This week, White House officials extended the reprieve to August 1 to provide more time for negotiations. But in recent days, Trump again has ratcheted up his trade threats, unveiling plans for a 50% tariff on imported copper, 50% on all shipments from Brazil and high fees for 14 countries that don't reach a deal with the U.S. by August 1. Already in effect: a 50% levy on metals, 25% on cars and 30% on China, in addition to the blanket 10% charge that appears poised to rise sharply. The Dow Jones Industrial Average tumbled nearly 280 points July 11 on Trump's latest tariff threats. "Risks are intensifying that we may see much higher tariff rates, with consequent effects on inflation and growth," said Jonathan Millar, senior U.S. economist at Barclays. Just 42% of CEOs of small and midsize companies plan to add to their staffs in the next year, lowest on record dating to 2003, according to a June survey by Vistage, a CEO networking group. How close is the US to a recession? Gregory Daco, chief economist at EY-Parthenon, has lowered his odds of a recession this year to 35% from 50% but said the chances of a downturn would climb above 50% if Trump reverts to the tariffs he rolled out in early April. Even without the harsher import fees Trump recently announced, economists have been predicting a notable slowdown in growth the rest the year. "We're carrying much less economic momentum, with a softening labor market trend, inflation about to reaccelerate and income (growth) more subdued," Daco said. Will tariffs lead to inflation? Forecasters have been surprised that tariffs haven't yet had a significant effect on inflation. Daco said that's partly because manufacturers and retailers stocked up on foreign goods in February and March, before the fees took effect. Also, he said, companies have been routing products through bonded warehouses that delay tariff payments. U.S. businesses and foreign exporters have absorbed much of the costs. And higher prices from tariffs don't immediately show up in inflation reports, such as the consumer price index. But all those tactics can delay the inevitable only so long, Daco said. "As inventory buffers thin, bonded warehouse timelines expire and cost absorption runs its course, price pressures will start surfacing more clearly into the second half of 2025," he wrote in a note to clients. Before Trump escalated the trade conflicts, many economists said the levies have pushed the average U.S. tariff rate from about 3% to 15%, a rise that would drive the Federal Reserve's preferred annual inflation measure from 2.7% to about 3.3% by the end of the year. How does immigration affect the economy? Meanwhile, an immigration surge that has bolstered the U.S. labor supply and job growth the past few years "is about to go into reverse," JPMorgan Chase said in a research note last week. The Trump administration is ending provisions that temporarily protected immigrants who lack permanent legal status from deportations for humanitarian reasons. That will likely cause 1.8 million migrants, including about 1.1 million workers, to lose their legal status in the second half of the year, JPMorgan Chase said. Especially affected are industries such as agriculture, construction and hospitality. Already, annual net immigration to the U.S. has slowed from about 3 million the past few years to an annual rate that's set to reach 500,000 by year's end, according to the Congressional Budget Office and economists. That compares to a rate of 900,000 a year before the pandemic. While the slowdown is projected to reduce job growth, forecasters reckoned that would take some time because many immigrants who arrived in recent waves are still settling into jobs. But the spike in deportations could quickly slow America's job engine within months, JPMorgan Chase said. How is the economy doing right now? The economy shrank at an annual rate of 0.5% in the first quarter but forecasters said that was mostly because the flood of imports from companies stocking up had to be subtracted from output (since they're made in foreign countries). Private domestic demand, a more telling measure of the economy's underlying health, increased a solid 1.9%. And economists estimate the government later this month will report 2% growth in the second quarter, according to those surveyed by Wolters Kluwer Blue Economic Indicators. But those forecasters expect quarterly growth to average just 0.7% the second half of the year, in line with Millar's estimate. and above the 0.5% gain Daco projects. That's close to stall speed. From the fourth quarter of 2024 to the fourth quarter of 2025, Millar estimates the economy will grow a meager 0.5%, compared to 2.5% the prior year. Here's a breakdown: Consumer spending Resilient households have propped up the economy the past few years but the threat of higher prices from tariffs has led Americans to rein in their spending, Daco and Millar said. Now, the actual pass-through of the fees into prices will likely have a more tangible impact on consumption, Daco said. Consumers especially have been cutting back on discretionary purchases, such as recreational services, travel and dining out. Income also has moderated, with average annual wage growth falling from about 6% in early 2022 to 3.7% in June. After adjusting for inflation, consumer spending fell 0.3% in May and is expected to rise just 0.7% the second half of the year, according to the Wolters Kluwer survey. Consumption makes up 70% of economic activity. The job market Average monthly job growth has slowed to 130,000 so far this year from 168,000 in 2024. Companies have sharply cut back hiring amid tariff-related uncertainty but remain hesitant to lay off workers following severe pandemic-related labor shortages, Millar said. But Daco said more companies are shedding workers through attrition and retirement, as well as targeted layoffs. Tracy Marlowe, CEO of Creative Noggin, a marketing company based in San Antonio, Texas, said sales were flat last year amid election-related uncertainty. After the election, clients began making requests for new campaigns but pulled back again in early 2025 amid Trump's on-again, off-again tariffs. Marlowe had been planning to add a full-time employee to her staff of 20 later this year but has decided to hold off. Clients "are just trying to figure out how to stay alive," she said. "I'll hire once I need somebody." Coping with the Great Recession and the COVID-19 downturn was easier, Marlowe said, because she knew the roadmap for recovery. By contrast, the trade war "has been a constantly changing roller coaster... It makes it very difficult to predict what's next." The immigration crackdown is set to slow job growth further, Daco said. Business investment Business capital spending surged in the first quarter as firms stocked up ahead of tariffs. But the economists surveyed by Wolters Kluwer expect outlays to fall in the second, third and fourth quarters. Companies already leery about ramping up spending amid the uncertainty are likely to hunker down further as the import costs they absorb squeeze profits, Daco said. Housing Housing starts fell 9.8% in May and single-family starts are down 16% since February, according to Oxford Economics. "Elevated interest rates and higher building material costs due to tariffs will make construction less profitable," Oxford said in a research note.
USA Today
12-07-2025
- Business
- USA Today
US economy poised to slow as Trump's tariffs hit consumers
The cloud of uncertainty that has hovered over the U.S. economy the first half of 2025 threatens to unleash a thunderstorm that dampens growth in the second half as President Donald Trump's higher tariffs hit consumers and his immigration crackdown rocks the job market. While growth was already poised to slow, Trump on July 10 increased the risks of a more pronounced pullback by announcing plans to raise the tariff rate on many Canadian imports from 25% to 35% and impose a blanket 15% to 20% duty on most other countries, up from 10%. On July 12, the tariff threats ramped up again with Trump announcing 30% tariffs on all imports from Mexico and the European Union. In the spring, Trump announced a 90-day pause on high double-digit reciprocal tariffs for China and many other countries, easing recession fears and reversing a stock market sell-off. This week, White House officials extended the reprieve to August 1 to provide more time for negotiations. But in recent days, Trump again has ratcheted up his trade threats, unveiling plans for a 50% tariff on imported copper, 50% on all shipments from Brazil and high fees for 14 countries that don't reach a deal with the U.S. by August 1. Already in effect: a 50% levy on metals, 25% on cars and 30% on China, in addition to the blanket 10% charge that appears poised to rise sharply. The Dow Jones Industrial Average tumbled nearly 280 points July 11 on Trump's latest tariff threats. 'Risks are intensifying that we may see much higher tariff rates, with consequent effects on inflation and growth,' said Jonathan Millar, senior U.S. economist at Barclays. Just 42% of CEOs of small and midsize companies plan to add to their staffs in the next year, lowest on record dating to 2003, according to a June survey by Vistage, a CEO networking group. How close is the US to a recession? Gregory Daco, chief economist at EY-Parthenon, has lowered his odds of a recession this year to 35% from 50% but said the chances of a downturn would climb above 50% if Trump reverts to the tariffs he rolled out in early April. Even without the harsher import fees Trump recently announced, economists have been predicting a notable slowdown in growth the rest the year. 'We're carrying much less economic momentum, with a softening labor market trend, inflation about to reaccelerate and income (growth) more subdued,' Daco said. Will tariffs lead to inflation? Forecasters have been surprised that tariffs haven't yet had a significant effect on inflation. Daco said that's partly because manufacturers and retailers stocked up on foreign goods in February and March, before the fees took effect. Also, he said, companies have been routing products through bonded warehouses that delay tariff payments. U.S. businesses and foreign exporters have absorbed much of the costs. And higher prices from tariffs don't immediately show up in inflation reports, such as the consumer price index. But all those tactics can delay the inevitable only so long, Daco said. 'As inventory buffers thin, bonded warehouse timelines expire and cost absorption runs its course, price pressures will start surfacing more clearly into the second half of 2025,' he wrote in a note to clients. Before Trump escalated the trade conflicts, many economists said the levies have pushed the average U.S. tariff rate from about 3% to 15%, a rise that would drive the Federal Reserve's preferred annual inflation measure from 2.7% to about 3.3% by the end of the year. How does immigration affect the economy? Meanwhile, an immigration surge that has bolstered the U.S. labor supply and job growth the past few years 'is about to go into reverse,' JPMorgan Chase said in a research note last week. The Trump administration is ending provisions that temporarily protected immigrants who lack permanent legal status from deportations for humanitarian reasons. That will likely cause 1.8 million migrants, including about 1.1 million workers, to lose their legal status in the second half of the year, JPMorgan Chase said. Especially affected are industries such as agriculture, construction and hospitality. Already, annual net immigration to the U.S. has slowed from about 3 million the past few years to an annual rate that's set to reach 500,000 by year's end, according to the Congressional Budget Office and economists. That compares to a rate of 900,000 a year before the pandemic. While the slowdown is projected to reduce job growth, forecasters reckoned that would take some time because many immigrants who arrived in recent waves are still settling into jobs. But the spike in deportations could quickly slow America's job engine within months, JPMorgan Chase said. How is the economy doing right now? The economy shrank at an annual rate of 0.5% in the first quarter but forecasters said that was mostly because the flood of imports from companies stocking up had to be subtracted from output (since they're made in foreign countries). Private domestic demand, a more telling measure of the economy's underlying health, increased a solid 1.9%. And economists estimate the government later this month will report 2% growth in the second quarter, according to those surveyed by Wolters Kluwer Blue Economic Indicators. But those forecasters expect quarterly growth to average just 0.7% the second half of the year, in line with Millar's estimate. and above the 0.5% gain Daco projects. That's close to stall speed. From the fourth quarter of 2024 to the fourth quarter of 2025, Millar estimates the economy will grow a meager 0.5%, compared to 2.5% the prior year. Here's a breakdown: Consumer spending Resilient households have propped up the economy the past few years but the threat of higher prices from tariffs has led Americans to rein in their spending, Daco and Millar said. Now, the actual pass-through of the fees into prices will likely have a more tangible impact on consumption, Daco said. Consumers especially have been cutting back on discretionary purchases, such as recreational services, travel and dining out. Income also has moderated, with average annual wage growth falling from about 6% in early 2022 to 3.7% in June. After adjusting for inflation, consumer spending fell 0.3% in May and is expected to rise just 0.7% the second half of the year, according to the Wolters Kluwer survey. Consumption makes up 70% of economic activity. The job market Average monthly job growth has slowed to 130,000 so far this year from 168,000 in 2024. Companies have sharply cut back hiring amid tariff-related uncertainty but remain hesitant to lay off workers following severe pandemic-related labor shortages, Millar said. But Daco said more companies are shedding workers through attrition and retirement, as well as targeted layoffs. Tracy Marlowe, CEO of Creative Noggin, a marketing company based in San Antonio, Texas, said sales were flat last year amid election-related uncertainty. After the election, clients began making requests for new campaigns but pulled back again in early 2025 amid Trump's on-again, off-again tariffs. Marlowe had been planning to add a full-time employee to her staff of 20 later this year but has decided to hold off. Clients 'are just trying to figure out how to stay alive,' she said. "I'll hire once I need somebody." Coping with the Great Recession and the COVID-19 downturn was easier, Marlowe said, because she knew the roadmap for recovery. By contrast, the trade war 'has been a constantly changing roller coaster... It makes it very difficult to predict what's next.' The immigration crackdown is set to slow job growth further, Daco said. Business investment Business capital spending surged in the first quarter as firms stocked up ahead of tariffs. But the economists surveyed by Wolters Kluwer expect outlays to fall in the second, third and fourth quarters. Companies already leery about ramping up spending amid the uncertainty are likely to hunker down further as the import costs they absorb squeeze profits, Daco said. Housing Housing starts fell 9.8% in May and single-family starts are down 16% since February, according to Oxford Economics. 'Elevated interest rates and higher building material costs due to tariffs will make construction less profitable,' Oxford said in a research note.
Newsweek
10-07-2025
- Business
- Newsweek
Hiring Plans Hit Record Low As Job Market Shows Signs of Cooling
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. American CEOs are reporting record-low workforce expansion plans, despite the past few days seeing a series of encouraging readings on the health of the labor market. According to executive coaching and advisory firm Vistage, only 42 percent of surveyed small and midsize business CEOs anticipate increasing their employee headcount in the year ahead. This is the lowest level since Vistage began conducting the quarterly survey in 2003, and is down from 45 percent in the first quarter of 2025. Meanwhile, 13 percent expect to trim their workforce over the next year, in line with first-quarter levels but at a rate Vistage says has only been seen "during the COVID-19 pandemic and in recessions." Why It Matters While recent payroll figures point to resilience in the labor market, the record-low hiring plans highlight persistent economic caution in the private sector and concerns over business conditions, as well as trade and tariff pressures. What To Know Based on responses from 1,537 surveyed between June 2 and 16, Vistage's CEO Confidence Index dropped to 77.2 points in the second quarter, down from 78.5 for the first three months of the year and well below the 100.8 reading at the end of 2024. Half those surveyed reported that business conditions had worsened over the past 12 months, compared to only 17 percent who think these have improved. Over two-thirds (69 percent) say trade and tariff policy has negatively impacted their business either directly or indirectly, and 49 percent plan to implement price increases during the current quarter. However, encouraging signals that the labor market remains resilient have left economists questioning the actual trajectory of the employment landscape. Recruiters at the KeySource booth at the Mega JobNewsUSA South Florida Job Fair held in the Amerant Bank Arena on April 30, 2025, in Sunrise, Florida. Recruiters at the KeySource booth at the Mega JobNewsUSA South Florida Job Fair held in the Amerant Bank Arena on April 30, 2025, in Sunrise, survey was conducted prior to the most recent nonfarm payrolls report from the Bureau of Labor Statistics (BLS), a closely monitored indicator considered a measure of both economic and labor market health. The unemployment rate dipped to 4.1 percent from 4.2, while the economy added 147,000 jobs in June, with state government and health care seeing the greatest gains. This was up from 144,000 the previous month and surpassed forecasts of 100,000. While treated by some as evidence of endurance in the jobs market, others were skeptical of the results beyond the encouraging topline figures. Cory Stahle, economist at Indeed Hiring Lab, wrote: "The U.S. job market continues to largely stand tall and sturdy, even as headwinds mount—but it may be a tent increasingly held up by fewer poles." "The headline job gains and surprising dip in unemployment are undoubtedly good news," he continued, "but for job seekers outside of health care & social assistance, local government, and public education, the gains will likely ring hollow." On Thursday, the Department of Labor released its weekly count of initial jobless claims. The number of Americans filing for unemployment insurance for the first time. The figure dropped by 5,000 to 227,000 for the start of July, well below forecasts and marking the fourth consecutive weekly decline. What People Are Saying Vistage's Chief Research Officer Joe Galvin told Newsweek: "While June's jobs report offered a dose of optimism, caution continues to define the underlying sentiment among CEOs. Our latest data shows that confidence among small and midsize business leaders continues to wane, driven by persistent economic uncertainty, geopolitical tensions, on-and-off-again tariffs, and a wait-and-see approach to interest rates. "Even with signs of resilience in the labor market, many CEOs are holding back on workforce expansion and investment plans amid concerns about rising costs and the evolving impact of AI on productivity. In fact, for the first time in many years, they are starting to consider reducing their workforce. "The Fed's anticipated rate cuts later this year could provide some relief, but until there's more clarity, business leaders are likely to remain on the defensive, focusing on efficiency, agility, and resilience to navigate an extended period of disruption that economists predict will not slow anytime soon as we head into the second half of the decade," he added. Nancy Vanden Houten, lead U.S. economist at Oxford Economics, said of Thursday's initial jobless claims data: "The latest jobless claims data were influenced by seasonal quirks, including the summer shutdown of auto plants, but remain consistent with a labor market characterized by both a slow pace of hiring and relatively few private-sector layoffs. For now, the labor market is healthy enough to allow the Federal Reserve to keep interest rates unchanged as it assesses the impact of tariffs on inflation. "Claims for benefits by federal employees remain low but that will likely change soon. The Supreme Court earlier this week ruled that the Trump administration may proceed with layoffs of federal workers while legal challenges continue." Bill Adams, chief economist for Comerica Bank, in comments shared with Newsweek, said: "The June jobs report's details were considerably weaker than the headline. State and local government jobs accounted for nearly half of the monthly gain, and within private employment, all of the net increase was in health care, social assistance, leisure and hospitality." "It seems clear that job creation will be in low-gear near-term as the private sector digests tariff increases," he added. "Hopefully, job creation will get a boost from 2026's tax cut, although cuts to Medicaid spending would cut into employment in health care and nursing homes." What Happens Next? Should the U.S. labor market hold steady, this could delay any action by the Federal Reserve on rate cuts, despite pressure for these from certain Fed officials and President Donald Trump. However, this remains contingent on a range of factors, including next week's inflation reading and potential shocks to the labor market.
