Security in Unsettling Times Job Growth is Slowing   As reported by Paul Wiseman and Christopher Rugaber, the current administration’s erratic and radical trade policies are having a significant negative impact on hiring.    The U.S. Labor Department had forecast job growth at 115,000 for last month. The actual number was 73,000, a 37% gap. July wasn’t the only month with disappointing results. Combined, May and June payrolls were lowered by 258,000, resulting in a slight rise in unemployment (4.2%), or an increase in the unemployed of 221,000.   Scott Anderson, chief U.S. economist at BMO Capital Markets, said, “A notable deterioration in U.S. labor market conditions...

Who (or What) Are You Talking To? On average, there are around 250 applicants for every job posting. Of course, this varies depending on whether it is an entry-level position, the industry, location, and the skills required.   As reported by Emily McCrary-Ruzz-Esparza in a recent Inc. article, “According to applicant tracking system Greenhouse, the number of applications per role has nearly tripled since 2021, thanks to the ubiquity of AI tools that let job seekers multiply their applications with little effort. Greenhouse’s customers received an average of 222 applications per role in 2024. Gem, another ATS, reports that recruiters manage 56...

AI and Small Your Business Before You Jump on the Bandwagon Know Your Customer How Old (or Young) is Your Customer?   A deep dive article in Katana reveals that 1 in 2 customers prefer talking to a person over an AI chatbot. This finding is, not surprisingly, customer-age related. Millennials and Gen Zers are more comfortable sharing information with AI than older generations. Customer Income is a Factor   Although high-income respondents are generally more accepting of AI chatbots, they still show a preference for human interaction. The higher the income, the higher the satisfaction with AI.   However, the results are more opaque when examined further....

Big Beautiful Tax Changes? What Might We See?   The July 4th deadline for passage of the Big Beautiful Bill (BBB) that the administration hoped for doesn’t seem realistic. Due to the significant differences between the House and Senate versions, an easy compromise seems unlikely. However, we know that sooner or later, some semblance of it will survive the reconciliation process and pass through both houses, and unless there are any deal-breakers, which is unlikely, the President will sign it.   Although all the attention thus far has been on the proposed changes to Medicaid and the recommended work requirements, as well as the reduction...

Storm Clouds On The Horizon? Unemployment Holds Steady, But Weaknesses Are Showing   According to the Labor Department’s May nonfarm payrolls report, employment in the U.S.’ private sector increased in May by 139,000 jobs, keeping the unemployment steady at 4.2%. Although growth is always good, the number of jobs added was less than the 147,000 anticipated as recently as April.   However, the numbers get less rosy the further down you drill. According to Dow Jones Data, although economists forecasted 110,000 new jobs for last month, the jobs added were woefully fewer (37,000 private sector) than hoped for. Small business employment shrank by 13,000,...