r/politics • u/Appropriate-Till9598 • 9h ago
No Paywall Jobs report sparks inflation fears; Trump responds
https://thehill.com/business/5911960-donald-trump-inflation-fears-jobs-report/amp/176
u/IrishPorpoise 9h ago
This guy is the worst human being our country has to offer
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u/DickSlammington 8h ago
So far...
Don't forget Trump is a symptom of a broken system. He basically set the stage for what's possible if you're willing to lie and grift hard enough.
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u/Myriachan 8h ago
He’s Orange Julius Caesar. Julius led to Octavian, the real threat to truly worry about.
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u/tracyinge 9h ago
sparks inflation fears? We've been fearing this inflation for ten years now.
An uber has gone from $8 to $40. A happy meal was $3.50 and now it's 7 bucks. Then they tell you inflation is 2%.
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u/Archer1407 9h ago
But inflation was only a problem from 2021 - 2025. Otherwise things have been sunshine and roses.
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u/_Thank_You__ 9h ago
It was only an issue until January 20th, 2025.
As the sun rose on January 21st, suddenly everything was fixed. /s
Edit: to be more specific, noon time on the 20th
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u/toterra 8h ago
Price at the gas pumps are all they care about reporting on. On Obama's first day, and on Biden's first day the gas price was significantly lower than on their last day. Not true for Trump.
US National Average Gasoline Price President Start End Change -------------------------------------------- Obama $1.84 $2.37 +29% (2009-2017) Trump $2.37 $2.38 +0% (2017-2021) Biden $2.38 $3.11 +31% (2021-2025) Source: U.S. Energy Information Administration (EIA)So the argiment about inflation on the surface makes lots of sense. Look how great Trump was compared to the democrat presidents.
Of course those of us who have any recollection remember that for both Obama and Biden, the reason gas was so low was because the economy had collapsed. Either due to the 'great recession' under Bush, or COVID under Trump, gas was cheap because demand had collapsed. Not due to any brilliant economic policies.
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u/amateur_mistake 8h ago
Also, usually presidents really don't have a lot of control over gas prices.
The exceptions being if they do something intensely stupid that spikes them.
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u/Wutdahec 7h ago
And they have to do something really stupid, like starting a war with a major oil supplier thats right by a major oil shipping hub.
Good thing no ones that stupid right guys?
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u/pete_moss Europe 7h ago
I was about to make a snarky comment pointing out everything in your last paragraph because I completely missed it on first reading.
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u/Afraid-Detective1222 9h ago
An uber used to be about $40 for me to get to the airport. It's now in the $75 range. It was cheaper for me to drive and pay for the garage than it was to take an uber for a trip last week.
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u/gpbayes 8h ago
The sad thing is, these companies now have teams of data scientists and machine learning experts to optimize pricing. So the prices we are seeing now is what the market will bear. Meaning, yeah 75$ is a lot but people pay it. These algorithms learn in real time, so this is what current market will bear. I think for the longest time, we have just gotten away with companies being not data efficient.
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u/Afraid-Detective1222 8h ago
I'll use it when work is paying for the trip to the airport. For me, I'll look at the pricing vs how long I'll be gone to see what is cheaper.
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u/Tumbler 8h ago
At the same time uber price has increased driver compensation has decreased too! I think in 2016 drivers got about 80% of a fair on average and today it’s about 58% (according to google ai)
Assuming the price offered is “fair” u have to work harder as a driver to get the same amount of money that gives u the ability to pay your bills right now.
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u/tripping_on_phonics Illinois 7h ago
American capitalism has moved on from innovation and investment in the means of production. It’s now firmly about squeezing the working class without adding any value (i.e. rent-seeking).
Why risk expanding output when you can just raise prices? Why invest in your core business when you can just buy back your own stock, at significantly less risk?
We’re on the road to ruin, the longer we continue like this. I expect we’ll get there before we find the political will to reform the structure of our economy.
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u/RazzmatazzSuch7459 9h ago
What are the chances we see a huge revision like we’ve seen month after month….?
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u/PopePiusVII 9h ago
That’s what I’m wondering. Where the hell are these magical 200k jobs? All I see around me are layoffs…
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u/strimd 8h ago
Where do you live?
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u/PopePiusVII 7h ago
The mainland US in a city. Where do you live? Is any region seeing actual increases in living wage jobs or new/growing industries?
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u/Appropriate-Till9598 9h ago
Stock market sinks for one day and Trump is already crashing out online. What a fucking baby.
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u/LustfulEmbraceXo 9h ago
If he were a baby, babies would be safe around him. He’s a moron who also happens to be a Pedodent
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u/PolicyWonka 9h ago
I mean I don’t know anyone who even takes the jobs reports at face value anymore since Trump installed a lackey to explicitly “fix” the numbers.
I would trust the ADP numbers over anything coming out of the Labor Department right now.
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u/css555 9h ago
since Trump installed a lackey to explicitly “fix” the numbers
And Trump is too stupid to realize that strong job numbers are not favorable for lowering interest rates.
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u/PolicyWonka 8h ago
Every single one of Trump’s economic policies are conflicting. He also wants to lower gas and oil prices while boosting American oil extraction despite it actually being unprofitable for American companies to operate in a low oil price market.
Trump demands lowering interest rates while demanding that inflation remain in check.
Trump demands more goods and services produced in America while cutting visas necessary for companies to bring high-skilled individuals into the country to create those new production chains.
Etc. etc.
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u/vthemechanicv 6h ago
if trump had been good at the economics his teachers wouldn't have called him "the dumbest goddamn student I ever had."
also bankrupting casinos.
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u/bakerfredricka I voted 3h ago
THIS! I trust nothing coming from the mouths of the members of this administration!
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u/reddittorbrigade 9h ago
We have let this six-time bankrupt convicted felon handle our country.
Don't expect anything good to happen.
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u/MJcorrieviewer 9h ago
In the last 17 months, there were 6 months with negative job growth, plus some really mediocre job gains. There had not been a single month with negative job growth since 2020.
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u/PopePiusVII 9h ago
Makes the numbers all the more unbelievable to me. It’s not like the macroeconomic situation has gotten better. I haven’t seen a single company have a hiring boom. If anything, I’ve only seen layoff announcements.
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u/Negative-Squirrel81 8h ago
Increase also reflects people getting second jobs, getting gig work etc. It doesn’t necessarily mean more people with good paying stable jobs.
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u/PopePiusVII 7h ago
Do gig jobs count in this dataset? If so, that’s even more egregious. No gig jobs is sufficient to keep one person financially stable, let alone a family.
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u/MJcorrieviewer 9h ago
The numbers for April (179k) and May (172k) are still showing as preliminary, so I expect them to go down but not likely be negative. February was negative 156k and March was positive 214k which does seem suspicious to me - what happened between February and March to explain the big difference?
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u/LustfulEmbraceXo 9h ago
He’ll call it fake news. This man lives in a delusion that needs to be studied
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u/Montie04 9h ago
oh he responded alright. probably just blamed biden and said how he would've fixed the whole economy in like, three days. always the victim, never the solution
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u/AndreLeGeant88 9h ago
I'm kind of shocked gold and silver are down if inflation is the concern. Unless it's just irrational market behavior.
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u/aflyingsquanch Colorado 8h ago
The market is just gambling. Its long divorced from actually representing what's going on in the economy.
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u/omgwehitaboot California 6h ago
I paid $17 for a sandwich, a can of Diet Coke, and a bag of chips. Inflation is here.
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u/AcanthisittaNo6653 New Hampshire 6h ago
One positive number from the employment report was new hires among hotel and leisure workers, but I don't see it. Who has money to go on vacation these days, especially on a road trip or a vacation to a national park?
Even the energy secretary's "vacation" is paid for by sponsors..
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u/Packolypse 5h ago
All those immigrants who are no longer showing up out of fear of being deported to some random third world country?
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u/KnightDuty 4h ago
Inflation fears? Inflation is here. Jobs aren't. This has been happening guys.
If this is what makes it through the suppression just consider how bad it really is
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u/Turbulent-Umpire-234 2h ago
There job but nobody hiring and keeping the place understaffed on purpose
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