FOCUS, Knapp: Taking a look at job numbers for August
By Frank Knapp, special to Charleston Currents | Like the rest of the nation, South Carolina’s economy seems to be humming along.
But there are warning signs and growing concern that we are heading to a recession.
The Labor Department released its monthly jobs report last week. It showed that 130,000 new jobs were created in August. However, around 25,000 were temporary census workers hired by the federal government. That puts the August total for new private-sector jobs at about 100,000.
For his part President Trump is furious at the “fake news” for pointing out that the Labor Department numbers were well below economist expectations.
Maybe August is just a “quirky month.” That is how Larry Kudlow, President Trump’s National Economic Council Director, described it.
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