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3 Feb

US Jobs Strong, But Not Wages–Trade Restrictions a Real Danger

General

Posted by: Anne Martin

Job growth in the US in January was better than expected, although the unemployment rate rose a little to 4.8%.  Still well beneath the Canadian unemployment rate of 6.9%.  They seem to be experiencing the same part time employment issues that we are in Canada, meaning there was a rise in part time work over full time.

Trump pledges to bring employment back to the country that he believes has been lost to NAFTA and Mexico however, Dr. Cooper believes that many of those jobs have been lost to automation  Replacing workers with robots makes the human factor of those jobs obsolete because of new technologies.  These jobs will not be returned in their traditional form.

Trade wars could begin with retaliatory tariffs from countries affected.

Read more…  https://dominionlending.ca/news/us-employment-strong-january-wages-lag/