Tariffs booming. Jobs? Not so much.

Customs duties are booming as the new tariff regime takes hold: customs collections were up almost 260% in the most recent quarter ending June 30. But, this boom in collections may be coming at a price. Monthly job growth is declining from prior levels, trending to below 1% annual year over year increases. It will be interesting to see what the scorecard looks like going forward with a new US Bureau of Labor Statistics chief in place.