World Business Report Is the Trump effect working on the US economy?
Nov 20, 2025
Kerry Leahy, an economist at Columbia University, discusses the surprising September job gains and the potential 'Trump effect' on the economy. Noah Youssef, chief economist at the American Staffing Association, dives into labor market trends and highlights job concentration in healthcare and food services. Jennifer Rodriguez shares her challenging job search in education, while Professor Sajiro Takashita explores the geopolitical implications of seafood trade tensions between China and Japan. It’s a deep dive into labor dynamics and global trade!
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Jobs Pickup Is Real But Narrow
- September added 119,000 jobs, beating expectations but not signaling a booming economy.
- Job gains were concentrated in services, not manufacturing, limiting broad-based recovery.
Construction Rises, Manufacturing Lags
- Construction showed a notable monthly surge, adding 19,000 jobs in September.
- But manufacturing hasn't recovered, so Trump's reshoring goal hasn't materialised yet.
Rising Unemployment With Job Gains Explained
- Unemployment can rise even when jobs are added because more people re-enter the labor force.
- Labor-force dynamics explain the apparent contradiction between job growth and a higher unemployment rate.