Afford Anything First Friday: We Were Wrong About 258,000 Jobs (This Changes Everything)
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Aug 1, 2025 Discover the latest insights on the housing market, where home sales hit a 30-year low but prices continue to rise. Analyze the job market's resilience as conflicting reports reveal surprising trends in job creation. Explore the volatility of meme stocks and their cultural impact in today’s market. Unpack the Fed's internal tensions amid low inflation and positive GDP growth, while discussing how trade policies and tariffs are reshaping the landscape. This episode tackles the complexities of economic indicators and their implications for future investments.
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Major Downward Jobs Revision
- Jobs added in July were just 73,000, far lower than initially thought for May and June.
- This drastically revises the understanding of recent job growth downward, showing only 106,000 new jobs added in three months.
Small Businesses Lag Job Growth
- The ADP report shows stronger private sector job growth than the BLS report.
- However, small businesses with fewer than 50 employees lag behind, signaling pressure on small firms.
GDP Growth Partly From Reduced Imports
- U.S. GDP grew at 3% annual rate in Q2, recovering from a slight decline in Q1.
- The growth partly reflects reduced imports due to trade tensions, not just increased domestic demand.