Economic News

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Healing said:
I’ll second the anecdotal evidence presented by super, while acknowledging the inflation numbers, on the
face, look fine.

My grocery bill is up ~10-12% since start of the year. My list is 90% fixed, so it’s relatively easy to compare, week over week. My staples, such as egg whites, almond butter, avocados, jalapeños, bananas, whole bean coffee, greens, and oil olive all up at least 10%. Maybe the Whole Foods and Trader Joe’s around me aren’t representative, but my costs of living are noticeably up.

I’ve also seen an increase in the mildly used mid-market SUVs (eg top trim of CRV, lower trims of NX), ie around 3-5% since “Liberation Day”.
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Your grocery list sounds very similar to mine and is quite stable. I’ve seen the rise in prices too.

Though buy both eggs and egg whites 😀
 
We eat out a lot, and restaurant prices are definitely increasing.

Another thing I’ve noticed is shrinking package sizes. Shredded cheese typically comes in 8 oz/2 cup packages. I bought a bag of Sargento Mexican Four Cheese Blend last week and noticed it was 7 oz/1 3/4 cups. Things that used to come in 1 lb packages are now 14 oz. A half gallon of ice cream is now 1 1/2 quarts. I’m guessing some of these shrinking packages slip through the inflation numbers, and certainly get past some consumers who think the price is the same when they are actually paying the same price for less amounts of goods.
 

Consumer sentiment swings sharply higher in June​


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www.axios.com

“… It was the first improvement in six months, with a more upbeat economic outlook evident across all demographics and political groups.

…
By the university's measure, consumer sentiment is still roughly 20% below President Trump's post-election bump at the end of last year.

  • Still, the survey is the latest indication that as tariff drama recedes, so do concerns about the broader economy among businesses and consumers.“
 
Sigh. The tariff drama has not receded. The price increases are coming. That reading is headed back down, I'd imagine.

The inflation readings make little sense unless the economy is in fact in a recession. I guess we'll see.
 
nycfan said:

Consumer sentiment swings sharply higher in June​


Loading…

www.axios.com

“… It was the first improvement in six months, with a more upbeat economic outlook evident across all demographics and political groups.

…
By the university's measure, consumer sentiment is still roughly 20% below President Trump's post-election bump at the end of last year.

  • Still, the survey is the latest indication that as tariff drama recedes, so do concerns about the broader economy among businesses and consumers.“
Click to expand...
I may be wrong but I'm guessing the upward swing is tied to 1 ) hey, I haven't seen a significant increase in prices at the gas pump or grocery store and 2 ) I see all these reports saying we are getting good trade deals which means tariffs will be no big deal.

I am more interested in seeing the consumer sentiment report that comes out in August which will give us a more clear reading both on the economic and geopolitical landscape.
 

Young Graduates Are Facing an Employment Crisis​

Slow hiring is especially daunting for those just starting out; ‘Right now, I’m pretending employment doesn’t exist’​


🎁 —> https://www.wsj.com/economy/jobs/jo...8?st=SFjPmP&reflink=desktopwebshare_permalink

“… The overall national unemployment rate remains around 4%, but for new college graduateslooking for work, it is much higher: 6.6% over the past 12 months ending in May. That is about the highest level in a decade—excluding the pandemic unemployment spike—and up from 6% for the 12-month period a year earlier.

That rate, based on data from the Labor Department, applies to people ages 20 to 24 looking for work who have at least a bachelor’s degree. (This group is mostly people 21 to 24, since few people graduate college sooner.)

Young graduates typically face a higher unemployment rate than their counterparts who have been in the workforce longer, but the gap is growing wider between older workers and the young. …”

IMG_7436.jpeg
 
nycfan said:

Young Graduates Are Facing an Employment Crisis​

Slow hiring is especially daunting for those just starting out; ‘Right now, I’m pretending employment doesn’t exist’​


🎁 —> https://www.wsj.com/economy/jobs/jo...8?st=SFjPmP&reflink=desktopwebshare_permalink

“… The overall national unemployment rate remains around 4%, but for new college graduateslooking for work, it is much higher: 6.6% over the past 12 months ending in May. That is about the highest level in a decade—excluding the pandemic unemployment spike—and up from 6% for the 12-month period a year earlier.

That rate, based on data from the Labor Department, applies to people ages 20 to 24 looking for work who have at least a bachelor’s degree. (This group is mostly people 21 to 24, since few people graduate college sooner.)

Young graduates typically face a higher unemployment rate than their counterparts who have been in the workforce longer, but the gap is growing wider between older workers and the young. …”

IMG_7436.jpeg
Click to expand...
“… The environment is even rougher for people without degrees: High-school graduates ages 18 to 19 with no college averaged an unemployment rate of 14.5% over the past 12 months. That is up from 13.3% over the prior 12-month period.

The Labor Department reported earlier this month that there were about 1.5 million fewer hires in the first four months of this year than in the first four months of last year. …”

IMG_7437.jpeg
 
DiehardHeelFan said:
Wasn’t there a department that was concerned with the Administration editing/censoring/blocking financial reports they produced if they looked bad?
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farmpolicynews.illinois.edu

Integrity of USDA Data Questioned After Trade Report Redaction - Farm Policy News

Analysts voiced concerns this week about the integrity of U.S. Department of Agriculture reports after the agency delayed a report and excluded findings that point to tariffs as a reason for a forecasted increase in the agricultural trade deficit.
farmpolicynews.illinois.edu
 
nycfan said:
“… The environment is even rougher for people without degrees: High-school graduates ages 18 to 19 with no college averaged an unemployment rate of 14.5% over the past 12 months. That is up from 13.3% over the prior 12-month period.

The Labor Department reported earlier this month that there were about 1.5 million fewer hires in the first four months of this year than in the first four months of last year. …”

IMG_7437.jpeg
Click to expand...
superrific said:
Good thing Biden's no longer in office, though. Things will start really looking up for the 18-24 demographic now.
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I think so, especially for the black and brown people in the 18-24 demographic who voted for Trump. They will be rewarded bigly...
 
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