{"id":15393,"date":"2025-07-28T15:14:10","date_gmt":"2025-07-28T20:14:10","guid":{"rendered":"https:\/\/1reason.com\/re\/michael-eisenga-ceo-of-first-american-properties-issues-statement-on-june-jobs-report-dont-be-fooled-by-the-headline\/15393\/"},"modified":"2025-07-29T10:14:10","modified_gmt":"2025-07-29T15:14:10","slug":"michael-eisenga-ceo-of-first-american-properties-issues-statement-on-june-jobs-report-dont-be-fooled-by-the-headline","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/michael-eisenga-ceo-of-first-american-properties-issues-statement-on-june-jobs-report-dont-be-fooled-by-the-headline\/15393\/","title":{"rendered":"Michael Eisenga, CEO of First American Properties, Issues Statement on June Jobs Report: \u201cDon\u2019t Be Fooled by the Headline\u201d"},"content":{"rendered":"
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While the U.S. economy added 147,000 jobs in June exceeding expectations, Eisenga emphasized that this number masks troubling undercurrents in the workforce. This report also is an interesting contrast to the ADP report which represents a more real time actual payroll database.<\/p>\n

\u201cOn the surface, today\u2019s report looks encouraging,\u201d said Eisenga. \u201cBut dig deeper, and you\u2019ll find clear evidence of a cooling private-sector engine, sluggish hiring appetite, and shrinking workforce participation. We should be sounding the alarm, not celebrate.\u201d This is especially the case when contrasting today\u2019s report with yesterday\u2019s ADP report, both can’t be correct.<\/p>\n

According to ADP Research, private sector payrolls fell by 33,000 in June, following a revised gain of only 29,000 in May. Additionally, service providers, which have driven much of the post-pandemic recovery, cut 66,000 jobs, particularly in professional services, and health care. Out of the 147,00 jobs created 73,000 of them were government related jobs. Small and mid-sized businesses are reducing headcounts, suggesting tight margins and increased caution in future hiring. According to ADP, average payroll growth has slowed dramatically to just 18,700 jobs for the past 3 months up to May. Challenger, Gray & Christmas reports that hiring plans in June were the second worst since 2004.<\/p>\n

\u201cBusinesses are not panicking, but they are clearly becoming more cautious,\u201d Eisenga said. \u201cLayoffs aren\u2019t skyrocketing, but employers are holding back on replacements and new hires. That tells you confidence is slipping.\u201d<\/p>\n

Labor force exits are also accelerating. The U.S. labor force shrank by 625,000 in May and another 130,000 in June, meaning between May and June, a combined 755,000 Americans exited the labor force, many likely due to retirement or more concerning exhausting their unemployment benefits. This mass exodus is not reflected in the drop in the unemployment rate to 4.1%, down from 4.2%. Accordingly, the unemployment rate did not drop because more people found jobs, but because fewer people are showing up on the stats due to the government\u2019s definition of dropping out of the workforce.<\/p>\n

\u201cA lower unemployment rate driven by workforce exits is not progress, it\u2019s smoke and mirrors,\u201d Eisenga warned. \u201cWe\u2019re seeing clear signs of job-hunting taking more time and a weakening path for consumer spending and growth.\u201d<\/p>\n

The number of people currently receiving unemployment benefits stands at 1.964,000, just shy of the 2-million mark. Hiring breadth is narrowing, and early regional employment data shows softening trends. Eisenga echoed recent calls from economists and Federal Reserve officials urging a pivot in Fed policy, including potential interest rate cuts as early as July. \u201cThe Fed cannot afford to ignore these warning signs,\u201d Eisenga said. \u201cThe revisions and participation trends demand action. A proactive stance by the FED is long overdue.\u201d<\/p>\n

Eisenga concluded by urging business leaders, investors, and policymakers not to take headline numbers at face value:<\/p>\n

\u201cThe real story is beneath the surface. If we wait for the next round of downward revisions to confirm what we already see forming, it will be too late.\u201d<\/p>\n

Media Contact:<\/strong>
Michael S. Eisenga, CEO
First American Properties
meisenga@firstamericanusa.com
(920) 350-5754<\/p>\n

\"\"<\/div>\n","protected":false},"excerpt":{"rendered":"

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COLUMBUS, Wis., July 03, 2025 (GLOBE NEWSWIRE) — In response to today\u2019s release of the June 2025 employment report, Michael Eisenga, CEO of First American Properties, cautioned policymakers and investors against overconfidence in the labor market\u2019s apparent stability.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/15393"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=15393"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/15393\/revisions"}],"predecessor-version":[{"id":15397,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/15393\/revisions\/15397"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=15393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=15393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=15393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}