Good morning.
Saturday in Whitewater will be partly sunny with a high of seventy-eight. Sunrise is 5:16 AM and sunset 8:31 PM, for 15h 15m 26s of daytime. The moon is a waxing crescent with 30.1% of its visible disk illuminated.
Today is the nine hundred forty-second day.
On this day in 1867, Frank Lloyd Wright is born.
Recommended for reading in full:
Martha C. White reports ‘Game over’: Big misses on jobs forecasts bring the costs of trade war into sharper focus (“This is a clear warning sign that the trade war is doing serious damage to the economy,” said one economist.):
June wasn’t a great month for the labor market. Economists blame President Donald Trump’s trade war — and warn that if he follows through with his protectionist agenda, he could lead America into a recession.
Friday’s announcement from the Bureau of Labor Statistics that the economy added just 75,000 jobs, well below expectations, came two days after payroll processor ADP’s report on private sector employment reported that a mere 27,000 jobs were added in May.
….
Weakness in manufacturing jobs, which were flat in May, is one big clue, he [Mark Zandi, chief economist at Moody’s Analytics] said. “Job growth in manufacturing last year was averaging 20,000 to 25,000 per month. This year, it’s barely positive.” May’s loss of retail and transportation jobs also reflects the impact of shrinking margins and a constriction in global trade, he added.
Matt O’Brien writes It’s time to start worrying about the economy:
The point isn’t that things are as bad as the household survey has been saying, but rather that they aren’t as good as the business survey has. The truth, as always, is somewhere in the middle. Which is why we should have expected the business survey numbers to regress to about where they are now. Bond investors, for their part, certainly did. By pushing long-term borrowing costs below short-term ones, they’ve been signaling that they think the Federal Reserve is going to have cut interest rates soon to fight off what they fear might be an incipient slump.
Lee Bergquist reports DNR refers Johnson Controls case to state prosecutors over failing to report pollution:
The state Department of Natural Resources is alleging that Johnson Controls International failed to report the release of hazardous materials at a property in Marinette that resulted in some residents unknowingly drinking water for years that was contaminated.
The DNR has referred the matter to the state Department of Justice for civil prosecution, saying a unit of Johnson Controls failed to inform state officials it knew that so-called forever chemicals had been found at a fire training facility in northeastern Wisconsin and did not take steps to minimize their impact.
Glendale-based Johnson Controls said in a statement Friday that it believed it was not obligated to notify authorities when the chemicals were first detected because the company believed the contamination was confined to its property.