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Economic News

  • Thread starter Thread starter nycfan
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  • Replies: 2K
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  • Politics 
CFordUNC said:
Sheeesh. Not only is the Trump economy a complete train wreck, now the Trump job market is a total disaster. So much winning.
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Well, by historical comparison during recessions, the job market is healthy. But by comparison to the job hunter salad days of the last 4 years, the power balance is certainly reverting to employers and many of the employee rights and flex gains are being whittled back.
 
nycfan said:


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U.S. economy added just 143,000 jobs in January but unemployment rate fell to 4%​

  • Nonfarm payrolls in January rose by a seasonally adjusted 143,000 for the month, down from 307,000 in December and below the 169,000 forecast. The unemployment rate nudged lower to 4%.
  • Job growth was concentrated in health care (44,000), retail (34,000) and government (32,000).
  • Wages rose more than expected: Average hourly earnings increased 0.5% for the month and 4.1% from a year ago, compared with respective estimates for 0.3% and 3.7%.
  • The report also featured significant benchmark revisions to the 2024 totals.
 
"... The report also featured significant benchmark revisions to the 2024 totals that saw substantial downward changes to the previous payrolls level though upward revisions to those who reported holding jobs.

The revisions, which the BLS does each year, reduced the jobs count by 589,000 in the 12 months through March 2024. A preliminary adjustment back in August 2024 had indicated 818,000 fewer jobs.

The level of those reporting at work, as computed in the household survey, soared by 2.23 million, the product of annual adjustments for population and immigration in the country. The household survey happens separately from the establishment survey used to tally total jobs. ...

“A lower-than-expected January payrolls number was more than offset by upward revisions to November and December’s totals and a downtick in the unemployment rate,” said Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management. “Those who’d hoped for a soft report that would nudge the Fed back into rate-cutting mode didn’t get it.” ..."
 


Consumer sentiment drops sharply in February as inflation worries jump​


"The University of Michigan’s gauge of consumer sentiment fell to 67.8 in a preliminary February reading from 71.1 in the prior month. That’s the lowest reading since July.

Economists polled by the Wall Street Journal had expected sentiment to rise to a reading of 74 in February.

The decline in sentiment was widespread with Republicans, Independents and Democrats all posting lower readings.

Another key part of the report is the UMich measure of inflation expectations.

According to the report, Americans’ expectations for overall inflation over the next year jumped to 4.3% in February from 3.3% in the prior month. That’s highest since November 2023 and only the fifth time in 14 years there was such a large one-month gain. ..."
 
nycfan said:


Consumer sentiment drops sharply in February as inflation worries jump​


"The University of Michigan’s gauge of consumer sentiment fell to 67.8 in a preliminary February reading from 71.1 in the prior month. That’s the lowest reading since July.

Economists polled by the Wall Street Journal had expected sentiment to rise to a reading of 74 in February.

The decline in sentiment was widespread with Republicans, Independents and Democrats all posting lower readings.

Another key part of the report is the UMich measure of inflation expectations.

According to the report, Americans’ expectations for overall inflation over the next year jumped to 4.3% in February from 3.3% in the prior month. That’s highest since November 2023 and only the fifth time in 14 years there was such a large one-month gain. ..."
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Shocked GIF by The Tonight Show Starring Jimmy Fallon
 
Make America Broke Again lolololol.

The Trump economy is such an unimaginable catastrophe and we are only three weeks in. It took Trump less than three weeks to ruin the greatest economy the world has ever seen under Joe Biden. So much winning!
 
4thgenheel said:
holy shit, that is hilarious.

i guess he had to pivot, can't blame biden and kamala for it for YEARS and now claim that he has no control over the situation.
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I just don’t know how long people like calla and HY can hang on before they just have to admit they got PLAYED.
 
On a related economic note, my mother in law nearly hit Janet Yellen with her car in DC today, when they were meeting at a mutual friend's luncheon today.
 
lawtig02 said:
If Trump has his way, there will be a bunch of former federal employees adding to that number over the next couple of months.
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He outwardly campaigned on that did he not? And a majority of the people understood that and agreed with him.
 
lawtig02 said:
I just don’t know how long people like calla and HY can hang on before they just have to admit they got PLAYED.
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I think HY is waiting to see how the reconciliation tax bill plays out before conceding anything. Also, HY likes all the anti woke EOs, so he is happy about that. Can’t speak to Calla because he’s been on ignore for a long time.
 
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