Fast Politics with Molly Jong-Fast Justin Wolfers & Jacob Soboroff
13 snips
Jan 10, 2026 
Justin Wolfers, an economist from the University of Michigan, reveals the troubling economic signals under the Trump administration. He discusses issues like the credibility of job reports and how tariffs and uncertainty are stalling growth. Meanwhile, journalist Jacob Soboroff shares insights from his book 'Firestorm', detailing the catastrophic Los Angeles fires. He highlights the dangers of climate change, misinformation, and failing infrastructure while reflecting on the human impact and challenges faced in recovery. Their conversation uncovers deep connections between economy and environmental crises.
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Jobs Report Still The Best Signal
- The official jobs report remains the most reliable broad indicator despite measurement challenges.
- Justin Wolfers argues recent data show near-zero or negative job growth, indicating a jobs recession.
Revisions Reveal Lingering Weakness
- Wolfers trusts the Bureau of Labor Statistics numbers despite political pressure and recent shutdown-related gaps.
- He notes revisions show October losses and little recovery, implying sustained weakness since April.
Official Growth Likely Overstated
- Fed Chair Powell estimates monthly job growth figures may be overstated by about 60,000.
- Wolfers suggests reality could be worse, with effectively zero or negative job creation since the tariff announcements.
