Afford Anything

The Real Story Behind These New Tariffs

11 snips
Dec 7, 2024
Explore the latest shifts in the job market, where unexpected job growth clashes with a rising unemployment rate. Discover how new trade proposals and tariffs could impact your wallet and job prospects across various industries. Understand the economic consequences of these tariffs, including the challenges faced by agriculture and technology sectors. The international response offers insights into global trade dynamics and national security. Get practical tips to navigate these changes and make informed financial decisions.
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INSIGHT

Shifting Labor Market

  • The unemployment rate is holding at 4.2%, up from 3.7% a year ago.
  • Job growth is strong, but the labor force participation rate is declining.
INSIGHT

Job Growth by Sector

  • Healthcare is the leading sector for job creation, adding 54,000 positions in November.
  • Leisure and hospitality also saw significant growth with 53,000 new jobs.
ADVICE

Understanding Tariffs

  • Tariffs are taxes on imported goods, paid by the importing company.
  • This can incentivize domestic production but also raise consumer prices.
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