The David Pakman Show 12/4/25: Another jobs fiasco as 2028 secret plan exposed
Dec 4, 2025
A staggering 32,000 private sector jobs were lost, revealing stress in small businesses linked to tariffs. Economists discuss how higher wages in Democratic states create higher prices, contrasting with lower costs in Republican areas. Meanwhile, Donald Trump's approval ratings dive, and Steve Bannon hints at a radical third term strategy. The podcast also dives into the impact of tariffs and immigration limits on blue-collar jobs, and Costco's lawsuit against Trump for tariff refunds highlights a rising corporate pushback.
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Presidential Party Predicts Job Growth
- David Pakman shows long-term data: Democratic presidents correlate with far higher job creation than Republican presidents since WWII.
- He argues presidents matter for jobs and current Republican policy continues a decades-long weak job performance trend.
ADP Shows Private Payroll Weakness
- ADP reported a surprising private payroll loss of 32,000 jobs in November, driven largely by small-business declines.
- CNBC linked the weakness to goods-producing losses and noted small businesses have been negative most months since April.
Media Framing Shapes Economic Narrative
- Fox Business downplayed the ADP loss, framing it as potentially easing pressure for Fed rate cuts.
- David Pakman contrasts that reaction with CNBC's focus on small-business pain and tariff impacts.
