Trump Slump arrives ahead of schedule. That's a fine economy he's ruining within days of taking office. More Americans file for unemployment benefits last week, continuing claims highest in 3 years https://apnews.com/article/unemploy...ayoffs-labor-0cb5ad389a3987666796a45e5e8153be Jobless claims applications ticked up modestly last week, but the total number of Americans collecting unemployment benefits rose to their highest level in more than three years. Applications for jobless benefits rose by 6,000 to 223,000 for the week ending January 18, the Labor Department said Thursday. Analysts were expecting 219,000 new applications. Weekly applications for jobless benefits are considered a proxy for layoffs. The total number of Americans receiving unemployment benefits for the week of January 11 climbed by 46,000 to 1.9 million, the most since November of 2021. The rising level of continuing claims, the total number of Americans collecting jobless benefits, suggests that some who are receiving benefits are finding it harder to land new jobs. That could mean that demand for workers is waning, even as the economy remains strong. The four-week average of continuing claims is about 100,000 higher than it was a year ago. Though some signs of labor market weakness surfaced in 2024, jobs are still plentiful and layoffs historically low. Earlier this month, the Labor Department reported that job growth in December surged and unemployment fell. Employers added 256,000 jobs last month and the unemployment rate ticked down to 4.1%. The final jobs report of 2024 underscores that the economy and hiring were able to grow at a solid pace even with interest rates much higher than they were before the pandemic. As a result, the Federal Reserve could be much less likely to cut borrowing costs again in the coming months after issuing three cuts late in 2024. Overall, the solid jobs figures suggest the economy is entering a post-COVID period of steady growth, higher interest rates, low unemployment, and slightly elevated inflation. Though layoffs remain healthy by historical standards, several high-profile companies have announced job cuts in the past few months. Facebook parent company Meta announced earlier this month that it was laying off 5% of its staff and spirits giant Brown-Forman — the maker of Jack Daniel’s — said it’s reducing its global workforce by about 12%. Late in 2024, GM, Boeing, Cargill and Stellantis all announced layoffs.
A lot of major companies will be trimming off the fat to try to function with a leaner work force in anticipation of higher costs to do business while trying to navigate within Trump's policies. It should temporarily drive up unemployment assuming global companies are lying that they have a way to protect their consumers from higher costs for consumer good while holding a big edge over the United States manufacturing jobs. Today, U.S. manufacturers make only about 11% of American-bought goods. We just do not have the capacity to create businesses to make more American made goods for American consumers while foreign countries have the capacity to continue making 89% of America's consumer products at a much cheaper rate than American's making the same products. On top of that, Trump will try to put pressure on the FED to lower interest rates. In my opinion, more American's will increase their credit card debts and other debts under the illusion interest rates will drop now that Trump is President. It's a problem if Inflation begins going back UP and the cost of living begins to go back UP...America will be back at the post-Pandemic highs because the FED caved in under Trump's pressure by lowering interest rates during Trump's tariff wars. On a side note: I just heard about many businesses in Chicago's Little Village are losing a ton of money. Some call it a ghost town because every body feels like ICE is coming to get them even "legal immigrants" and to harass American citizens (not Hispanic) to determine if they know someone who immigrated to the Chicago area. If that continues for a few weeks, I wouldn't be surprise if many businesses in Little Village begin laying off workers...resulting in higher unemployment. wrbtrader
Saudi oil prices expected to drop, massive deregulation will have its effect. Tariffs are to force other countries to make goods in the US. Trump actually expects to have enough to pay down the debt, must be dreaming up some mega projects.
Explain how tariffs make countries move production to the U.S.... When US put duties on Chinese candles entering the market, China moved production to Vietnam. Not to the U.S. where the cost to build a factory and hire U.S. workers is stupidly high. you cannot explain it because you do not know economics/finance or simply repeat what media tells you...
Not only is Trump a fascist that wants to curtail democracy, he apparently is also against free markets and capitalism. The idea that Oil prices can be dropped by request is absurd, but he's also said he doesn't need Canada's heavy Oil, and that the US can flip a switch and simply produce the Oil itself. His policies are a mixture of contradictions and fantasy projects that aren't the least bit practical.
They can, if they're blanket tariffs, meaning country of origin and MFN rules are suspended, and landed costs become so high that producers "may as well" produce in the US. Of course by that point costs have become "stupidly high", as you said. So high that maybe the goods will not be produced at all—no one can afford them.
Americans looking for work haven't had it this hard in almost 3 years https://finance.yahoo.com/news/amer...it-this-hard-in-almost-3-years-161058556.html
Begun, the Trump Depression has. Jobs report shows a hiring slowdown as companies are acting like ‘they’re in a recession’ https://www.cnn.com/2025/02/07/economy/us-jobs-report-january-final/index.html
So how soon until Trump causes a massive recession? Donald Trump Has Found a New Way to Threaten the Economy The markets haven’t freaked out about the president’s weird contention that he might renege on a portion of the national debt yet. But if he keeps talking about it—watch out. https://newrepublic.com/article/191367/trump-treasury-default-bond-market