Marketplace All-in-One Tariff-driven price bloat hasn't arrived just yet
Jun 11, 2025
Neela Richardson, ADP chief economist, dives into the current economic landscape, highlighting how tariffs have yet to significantly impact consumer prices. She discusses surprising job cuts in retail and the challenges retailers face with inventory and hiring. The conversation also explores the evolving construction industry amid automation and immigration issues in Utah County. Listeners get insights into Provo's entrepreneurial spirit, linking community ties to business growth, all while navigating the economics of everyday products.
AI Snips
Chapters
Transcript
Episode notes
Tariffs Affect Prices Unevenly
- Tariff-driven price increases are happening unevenly due to stockpiling and product type variation.
- Fresh perishables like bananas show price spikes sooner than storable goods like coffee.
Retailers Manage Inventory Actively
- Retailers are discounting some items like furniture to move stock due to economic slowdown fears.
- Tariff price increases on goods are expected to hit consumers more around August.
Retail Faces Job Cut Surge
- Retail sector led job cuts in 2025, with layoffs increasing 274% year-over-year.
- Many cuts are due to store closings by popular retailers and volatility in retail employment.