Weak job market
-US nonfarm payrolls rose by 73K in July 2025, well below expectations of 110K. The June figure was sharply revised down from an initial 147K to just 14K, while May’s reading was also cut by 125K. Taken together, these revisions show that employment in May and June was 258K lower than previously reported—suggesting the labor market may be cooling more rapidly than initially anticipated.
US nonfarm payrolls rose by 73K in July 2025, well below expectations of 110K. The June figure was sharply revised down from an initial 147K to just 14K, while May’s reading was also cut by 125K. Taken together, these revisions show that employment in May and June was 258K lower than previously reported—suggesting the labor market may be cooling more rapidly than initially anticipated.
-Trading Economics
Visalia Industrial Park companies are feeling the chill with UPS recently reporting a 3% decline in revenue on deliveries in the current quarter.The company stock is down 30% year to date on tariffs impacts.
–Amazon ,one of Visalia’s largest employers, recently told their staff that AI “would likely lead to a smaller workforce.” reports the WSJ following other companies like Union Pacific and Verizon who are cheering about it.
-More signs of weakness comes from the Inland Empire who also has a big warehouse employment base like Visalia. One report says that area’s overall vacancy rate climbed to 4.8%, up 20 bps quarter-over-quarter (QOQ) and 70 bps YOY, the highest level seen in the past decade.
Mooney losing another retail outlet
The shopping center anchored by Dick’s Sporting Goods in Visalia will be losing a tenant with the closing of Mattress Firm in the center. Mattress Firm is one of 15 mattress stores operating under that name or Mattress Land or Sleep Fit that are closing due to bankruptcy filing.