WSJ What’s News Is the U.S. Job Market Weaker Than It Looks?
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Jul 2, 2025 The labor market may be weaker than it seems, with signs of softness amid steady job growth. Tesla faces disappointing quarterly sales, raising questions for investors. Legal battles take center stage as Sean Combs is found not guilty of serious charges but faces lesser convictions. The podcast delves into the aging population's potential impact on GDP and highlights corporate layoffs, including significant cuts at Microsoft. It also discusses how developer values influence AI and contrasts U.S. environmental policies with the EU's ambitious goals.
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Job Market Softer Than Shown
- Different surveys show the U.S. job market is softer than headline numbers suggest.
- Smaller, less well-run companies may be cutting jobs more than large firms responding early to surveys.
Household Survey Confirms Slower Growth
- The household survey confirms slower employment growth than establishment survey.
- Zero or negative net immigration exacerbates hiring difficulties this year.
Economic Growth Under Pressure
- Slower job growth and reduced immigration may slow GDP growth significantly.
- Aging population compounds challenge of supporting economic growth levels.