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U.S. economy lost 23,000 jobs in July, a sudden reversal

nbcnews.com

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Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#41

Post by hilariously »

mapontosevenths wrote: post #31
Jeremy1026 wrote: post #30

Earlier quoted context omitted.

No one with at least two brain cells to rub together thought the tariffs was going to make anything better.

I suspect that even his proponents knew better, they just didn't care as much about the economy as they did culture wars nonsense and religious woo-woo.

It's not a "suspect" thing, it has been widely reported up and down the chain there is basically no support for tariffs, especially when the economic reality hit. The only supporter is trump, and he can do whatever he wants as king baby.

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#42

Post by izend »

shin_lao wrote: post #33
1over137 wrote: post #28

Meanwhile Canada added 75,000 new jobs in July. Perhaps Trump's tariff scheme is not working so well after all. https://www.cbc.ca/lite/story/9.7299225

[flagged]

Look at the M2 supply growth, it can't collapse with that growth but inflation will run quite high.

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#44

Post by ninkendo »

ethagnawl wrote: post #35

And, as a result, the market is ... up?

Unemployment makes it more likely for the fed to lower interest rates, which makes the stock market more attractive, so, yes.

(Unemployment also generally causes lower inflation in general, at least according to the prevailing macroeconomic school of thought.)

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#45

Post by camdenreslink »

hobofan wrote: post #32
ceejayoz wrote: post #5

Note, also: > In yet another troubling sign for the labor market, the Bureau of Labor Statistics said that it revised down the prior two months by a combined 103,000. May’s jobs total was cut by 66,000 to 129,000 total jobs added, while June’s total was lowered by 37,000 to a total gain of 57,000.

I'm not an expert at quantifying the magnitude of how bad that is, but revision down is not something "exceptional". The numbers have been revised down consistently since ~2022: https://www.nytimes.com/2026/03/06/business/economy/economy-...

It does make you wonder if the July shedding of jobs could be lowered even further to ~100k+ jobs lost (since they revise down very consistently).

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#47

Post by Sanzig »

shin_lao wrote: post #33
1over137 wrote: post #28

Meanwhile Canada added 75,000 new jobs in July. Perhaps Trump's tariff scheme is not working so well after all. https://www.cbc.ca/lite/story/9.7299225

[flagged]

Citation needed. Canada's economic indicators are all extremely healthy, despite the trade war tantrum from its southern neighbour.

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#48

Post by gruez »

HarHarVeryFunny wrote: post #38

These jobs lost/gained and unemployment statistics, especially on a monthly basis, and when the numbers are so small, are just noise. Seasonal adjustments alone (baseline assumptions on how many people should be employed) make them meaningless, as does the government definition of being unemployed or looking for work. As far as the government is concerned if you have been looking for a job for so long and/or are so d…

>As far as the government is concerned if you have been looking for a job for so long and/or are so discouraged that you stop looking, then you are no longer "unemployed" since you are not looking for a job.

> ...

>When you read headlines of companies laying off thousands of employees, that's real. When the government says they've retroactively adjusted their seasonally adjusted fake news, then not so much.

The BLS keeps track of the discouraged workers as well, and it's not significantly different than previous trends.

https://www.bls.gov/charts/employment-situation/alternative-...

>And then you have the current president's habit of just lying about everything, and threatening anyone who doesn't support his lies, and it seems we have truly entered a post-truth world where "alternate facts" rule the day.

You don't see the irony here with what you're doing?

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