Part 4/10:
A Comprehensive Overview of Labor's Impact
A critical point of connection between the Chinese downturn and the U.S. economy lies in labor demand. When profits shrink, manufacturers tend to cut back on their workforce, exacerbating unemployment rates. Current trends in the broader economy illustrate that declining industrial production translates directly into job losses.
Safety in employment is dwindling, with the number of continual unemployment claims rising steadily—a harbinger of what is to unfold if current trends persist. With fewer jobs available and reduced consumer spending, the shadow of a recession looms large over the American economy.