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Slowdown to 2020


Last Friday the Labor Department reported for the 104th straight month the economy added jobs, but the news wasn’t all roses because 75,000 jobs were added vs 263,000 in April. The lower jobs report was the weakest since the great-recession ended in mid-2009, and the hiring slowdown was broad-based across all industries. We are also seeing a slowdown on the executive search front with new assignments flattening out versus the robust hiring environment that we observed in 2018. The other indicator is that factory output is down after a year of record output with consumers and companies buying less cars, trucks, and tractors coupled with fewer homes being built. All of this translates to a slowdown, but even if we have a flattening-out of the economy, as long as it is short of recession we just might have an okay 2020.


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