Marketplace Trump's jobs report retaliation "raises alarm bells"
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Aug 1, 2025 The July jobs report was a major disappointment, with only 73,000 new jobs added, prompting controversial moves from the President. As the economy shows a K-shaped recovery, the affluent thrive while mid-sized firms struggle under tariffs. The podcast dives into the integrity of economic data and its implications on future monetary policy. It also discusses dynamic pricing strategies emerging in grocery stores and the challenges of navigating career shifts in today’s job market, particularly for young workers.
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Jobs Report and Data Integrity
- The July jobs report was weak with 73,000 jobs added and large downward revisions for May and June.
- The firing of the Bureau of Labor Statistics commissioner raises concerns about data integrity and future trust in economic data.
Significant Job Revisions Highlight Weakness
- The May and June job numbers were revised down significantly, primarily due to state and local government job losses.
- Most job gains in the last three months have been in healthcare, indicating underlying weakness elsewhere.
Jobs Report Shifted Fed Outlook
- Fed Chair Powell's outlook was positive before the July report but today's weaker data changes the economic outlook drastically.
- The health of the labor market is now viewed with more concern, influencing potential Fed actions.