The two reports released on Wednesday painted darker pictures of US economy under US President Donald Trump. His tax policy and confusing tariffs will ultimately harm the workers and raise the state’s financial outlook.
First, the processing company ADP is estimated on the latest monthly report The US economy lost 32,000 jobs in September, and employment of employment in various industries.
The ADP lost 19,000 jobs last month, and it was estimated that professional and business services lost about 13,000 jobs, and it was estimated that it lost 9,000 jobs due to losing financial activities.
ADP estimates that small businesses have been hit the most with 40,000 employees in this month.
NELA RICHARDSON, a senior economist of ADP, said that the latest numbers were “what we were looking at in the labor market, and US employers were cautious in employment.”
The ADP report seems to be as reliable as the monthly job report issued by the Labor Statistics Bureau, but this report will not be announced as scheduled as previously previously due to the current closure of the federal government on Friday.
In addition to the ADP survey, the latest ISM manufacturing PMI report Exposed In the uncertainty caused by Trump’s tariffs, the manufacturing sector signed a contract for seven consecutive months in September.
In the new ISM survey, management’s opinion points out the serious situation faced by many US manufacturers.
One respondent said, “Business continues to be seriously depressed. As the company began to pass the tariff through additional charges, the price increased by up to 20 %, increasing the price pressure on the input and customer production. ”
“The addition of derivatives and aluminum tariffs that have not been announced in mid -month,” said the executive.
On the other hand, an executive of an electric equipment supplier said, “Customer orders for heavy equipment are depressed because tariffs affect high -end capital equipment.” Executives said the company’s revenue predictions were flat throughout the year and said, “There is no prospect that cannot be improved by 2026.”
Another manufacturer simply said, “Steel tariffs are killing us.”
This gloomy feelings are not shared not only by business executives but also for US consumers. Tuesday conference board Released The Consumer Confidence Index shows the US’s “rapid deterioration of consumer views on the current economic situation.”
Stephanie Guichard, chief economist of the Committee, has the lowest number of consumer trust since April 2025.
“The consumer’s evaluation of business conditions has been much less positive than the recent months, and the current evaluation of job availability has fallen to reach the low level of new many years in a row.”
The Conference Committee also found that the short -term prospects for consumer income, business and labor market situations were once again lower than the “generally” signal “signal”.
