The US economy shrank 2.7% in the second quarter, according to a report by the US Bureau of Labor Statistics.
However, the jobs loss is less than the 4.6% decline the US economy experienced in the third quarter.
For most of this year, the US has been enjoying the benefits of the weak US dollar and strong global demand for American goods and services.
The US has also been benefiting from the drop in the euro, which has helped the US in its quest to offset some of the damage from the crisis.
However, according the Bureau of Economic Analysis, the overall US economy has actually shrunk 2.8% in Q2, compared to 2.5% in a year ago.
In the US, jobs lost fell for every type of job except for the “non-agricultural” jobs category, which dropped by 1.1%.
The US economy grew at a 1.8 percent annualized rate in Q1.
That’s a good news story for President Donald Trump and his administration, who are hoping to maintain a surplus in the budget by adding new jobs, but it doesn’t reflect the real economy, which shrank 3.9% in 2018.
The jobs lost include people who lost their jobs in the recession, the government’s civilian and military workers, as well as many of the government contractors who lost jobs as the government shutdown hit.
The number of non-agriultural workers fell by 1,400 in 2018, and the number of government contractors increased by 675, the BLS reported.
“We don’t want the jobs that were lost in the Great Recession, but we do need the jobs,” said Jason Furman, the director of the White House Council of Economic Advisers.
But there are many ways the US may still be hiring.
There are more people in the workforce than there were in December.
In February, the unemployment rate was 6.1%, compared to 6.5 in December, according to the BLS.
And, of course, we still have a lot of jobs that are being lost.
Many of the jobs lost in 2018 were in higher paying industries, like manufacturing and construction, where wages are much higher than they were in previous years.
Meanwhile, many of those workers have been laid off.
As for the total number of jobs, the Bureau said in its report that “over half of the civilian workforce has been eliminated, down from 65 percent in December 2017.”
But the unemployment rates in the civilian and private sector were also lower in the same quarter than they are now.
Bureau of Labor figures for September 2018 showed the US unemployment rate for people between 25 and 64 was 5.4%, the lowest since April 2017.
Still, some economists have warned that the economic slowdown is starting to slow down.
Economists at Morgan Stanley said in a recent research note that “job losses continue to be a challenge for policymakers as the labor market continues to recover, with the unemployment numbers at historically low levels.
We continue to see a deceleration in the labor force participation rate, which is a proxy for the labor participation rate.
Employers and employers of individuals in nonfarm jobs are also having a difficult time finding qualified workers, with an additional 11.4 million Americans unable to find work.”
According to the BLS, the number-of-job loss ratio, the share of people unemployed, rose from 12.7 percent in January 2018 to 13.3 percent in the quarter ended March 30, 2018.
The unemployment rate is also at a historically low level, with 5.8 million Americans unemployed.
To help with the hiring shortfall, the Federal Reserve said on Wednesday it will keep interest rates at 1.5%, which is lower than what they have been for nearly two years.
The Federal Reserve is expected to cut its key interest rate to 1.0% next week, and its benchmark rate to 0.75% for the first time in more than two decades.
If rates stay at their current level, the Fed will likely raise rates by as much as a quarter to help slow the economy, while other central banks may start hiking rates in anticipation of the Fed’s rate hikes.