Panera Pan Planned Major Layoff in the end of fresh dough production
Panera Pan is planning to lay off hundreds of employees to phase out production of fresh doughs across the United States.
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US employers added a disappointing 73,000 jobs in July as payroll growth slowed amid President Donald Trump’s sweeping import duties, and increased immigration crackdowns and massive federal layoffs.
Furthermore concern: The employment improvements in May and June have been revised at a whopping 258,000, depicting a labor market that is far weaker than they believed in spring and early summer, increasing the likelihood that the Federal Reserve will cut interest rates in September.
The Labor Bureau said Friday that the unemployment rate rose from 4.1% to 4.2%.
Before the report was released, economists estimated that 105,000 jobs had been added in July.
What about the current job market?
Economists believed that despite Trump’s economic policies, the labor market has been significantly resilient in recent months, adding more than 100,000 jobs per month from April to June. However, salary profits may now be revised from 144,000 to 19,000, with the June addition downgraded from 147,000 to 14,000.
The layoffs remained low, but employment was weak and fell to its 12-month low in June. Overall job benefits for June were strengthened by state and local government employment.
That dynamic could have carried out that course, predictors say.
The miserable work report adds to the dim outlook for the US economy. The broader economy grew at a healthy 3% annual rate in the second quarter, the Commerce Department said in the week of July 28th.
Meanwhile, the federal government is dumping workers in large numbers. The federal employment freeze was extended from July to October, with 154,000 federal employees accepting the acquisition and tens of thousands more fired. As they were being challenged in court, only a small portion of the layoffs appeared in the monthly work count. However, the Supreme Court recently lifted its injunction and could cut jobs further last month, Capital Economics said.
However, Goldman Sachs said the High Court’s ruling was likely too late to influence Labour’s July investigation.
How do tariffs affect the job market?
Private sector employment is slowing, increasingly focusing on just a few sectors, including healthcare, leisure and hospitality. Trump’s tariffs create uncertainty about the impact on consumer prices and spending and corporate profit margins, leading to many companies restricting employment.
Private companies added less than 100,000 jobs in June. Goldman said the manufacturers that were hit hardest by import fees lost an average of 5,000 jobs a month between April and June quarter.
On July 31, ahead of the midnight negotiation deadline, the White House announced it would maintain a 10% tariff on imports from 100 countries, pushing it to 15% in 40 countries and up to 40% in 30 countries. Economists estimate that the average US tariffs will be around 3% to 15% to 20% and perhaps higher earlier this year, driving key inflation measurements from 2.8% to 3% or more.
How will deportation affect the labor market?
The arrest and deportation of immigrants who lack permanent legal status have hindered employment in industries such as agriculture, construction, leisure and hospitality. From March to May, these sectors lost an average of 7,000 jobs a month, Goldman said.
Capital Economics said the deportation could have been further ratcheted in July after the Supreme Court lifted the judge’s order and demanded that immigrants be granted an opportunity to show harm.
The economist Dantedianio, Moody’s analysis, also restricts the migration flow to the United States, but it has served as the biggest factor in a workforce that has shrunk more than 300,000 since January.
On the one hand, there is less workforce (people looking for employment), including those who suppress employment because employers attract fewer job seekers. But it’s balanced by a pool of job seekers with weaker demand from employers, and it’s preventing unemployment from rising, Deantonio said.
Contribution: Joey Garrison. Reuters
