Hiring decelerated to the slowest pace in two years as sectors including business services and education and health shed jobs, pointing to a weakened demand for workers.
The U.S. economy has contracted over the past six weeks as hiring has slowed and consumers and businesses worried about tariff-related price increases, according to a Federal Reserve report.
-- NBC News (@nbcnews.com) June 4, 2025 at 4:45 PM
[image or embed]
Related ...
US service sector unexpectedly contracts in May; inflation heats up
www.reuters.com
... Summary
- - - ISM nonmanufacturing PMI drops to 49.9, indicating contraction and lowest since June 2024
- - - Tariff uncertainty complicates business planning, affects financial guidance
- - - Supply chain bottlenecks and tariffs drive inflation concerns
The U.S. services sector contracted for the first time in nearly a year in May while businesses paid higher prices for inputs, a reminder that the economy remained in danger of experiencing a period of very slow growth and high inflation.
The Institute for Supply Management (ISM) said on Wednesday its nonmanufacturing purchasing managers index (PMI) dropped to 49.9 last month, the first decline below the 50 mark and lowest reading since June 2024, from 51.6 in April. ...
Related ...
Fed Beige Book' economic report cites declining growth, rising prices and slow hiring
www.cnbc.com
... Key Points
- - - The U.S. economy contracted over the past six weeks as hiring slowed and consumers and businesses worried about tariff-related price increases, the Fed reported.
- - - On inflation, the report described prices as rising "at a moderate pace and " widespread reports of contacts expecting costs and prices to rise at a faster rate going forward."
- - - Regionally, Boston, New York and Philadelphia all reported declining economic activity. Richmond, Atlanta and Chicago were among the districts reporting better growth. ...
For some reason this song popped up into my mind ...
Aretha Franklin - Someday We'll All Be Free (1992)
www.youtube.com
Lyrics excerpt ...
...
Free
Hang on to the world as it spins around
Just don't let the spin get you down
Things are moving fast
Hold on tight and you will last
Keep your self-respect and your woman and manly pride
Get yourself in gear, keep your stride
Never mind your fears
Never mind 'em, never mind
Brighter days will soon be here
...
Sam Cooke - Chain Gang (1960)
www.youtube.com
Lyrics excerpt ...
...
All day long they work so hard
Till the sun is going down
Working on the highways and byways
And wearing, wearing a frown
You hear them moaning their lives away
...
#40
You really should let Grok write your posts.
At least it's coherent.
That word salad is garbage.
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