CNN — First-time applications for unemployment benefits rose much more than expected last week, a likely indication of some “noisy” data, but also a potential worrisome hint that cracks may be forming in America’s long-solid labor market. There were an estimated 242,000 jobless claims filed last week, according to seasonally adjusted data released Thursday by the Department of Labor. That’s an increase of 22,000 from the prior week’s tally and a figure that landed well above economists’ expectations for 220,000 claims. It’s the largest weekly spike in claims in more than four months and the weekly claims — a proxy for layoffs — are at their highest level since early December, Labor Department data shows. https://www.cnn.com/2025/02/27/economy/us-jobless-claims-layoffs/index.html Trump's presidency is not off to a good start, unless your net worth is in the billions. #TrumpsAmerica
The (R) from one of our political parties stands for Recession. It is an undeniable trend over the last 30 years that they fundamentally break the economy when they pilfer it for the wealthy.
Unemployment is only going to get worse. You can't radically and hastily downsize virtually the entire federal workforce and not grow the unemployment rolls. Domino-like, consumerism will drop, as the unemployed aren't at the mall or scrolling through Amazon. Mass defaults on housing and other high-ticket items are certainly possible.
Throw in Trump's tariffs, and we're looking at stagflation. This assumes Trump will actually go through with the tariffs this time and not give another 11th hour reprieve.
On a less hyperbolic note, you can't introduce mass chaos and uncertainty into the economy and expect it to react well. Just common sense, really.
Was I being hyperbolic? I thought I was being quite measured and logical. Hyperbole would have mentioned something about roving Tate gangs in the streets, mass starvation, plagues, and the downfall of democracy.
No. My bad. Just the position that the elimination of government jobs as the sole reason seems a bit hyperbolic and ignores all the other stupid shit he's doing. Honestly, at this point his foreign policy is an absolute disaster, especially when it comes to things businesses favor, like predictability and stability.
If we do have a recession soon, this time it will be an austerity-driven one unless the Republicans get in the mood to do major stimulus, hire a ton of federal workers and do make work programs. But my guess is they will be taking ques from Hoover, not FDR. But even Hoover raised taxes to attack a budget deficit, and that isnt happening.
Trump will bring back stagflation. Maybe America was great back when we experienced inflation and recession simultaneously something that economists said could never happen.
Someone please help me out here. Is it me or does this guy appear to be going out of his way to cause a recession? What is the end goal here? I took Dr Denslow’s ECON 1 years ago and must have missed class the day when he said tariffs and high unemployment were good things.
whateves.....the Q is what's it gonna be called 'cuz it's all about the m@rketing. They'll nickname it something & say it's the best thing to ever happen. p.s. GC, please allow us to post with the word M@rketing. relatedly, how many Trumpers does it take to screw in a light bulb? A. None. Trump will say it is fixed & his supporters will cheer in the dark.
Are you saying that Trump screwed the pooch or are you saying that he crapped the bed? Or did Trump screw the pooch while crapping the bed?
People have been talking about a coming recession for over a year while Democrats told us the economy was great. As expected they turned on a time as soon as Trump took office, admitting the economy was crap. The fundamental problem is total gov't spending at the local, state and federal levels In 1910 it was 12% of national income When Reagan took office it was ~44..5% of national income When Reagan left office it was ~40% Today I think it is over 50% of national income Nothing Trump and Elon can do to get gov't spending structurally reduced long term that won't hurt the economy short term As usual the Democrats will fight hard against whatever helps America long term. They love socialism On Twitter in 2021 I said Elon was the guy that could fix healthcare. Costs are insane and can be reduced by over 50% by going to a Singapore--Milton Friedman system with medical savings accounts. Cost savings could approach 9% of GDP. Democrats would fight it Free online degrees from schools that are accredited can save big money Ending licensure (even for doctors) would spread the wealth and be beneficial. If you haven't studied it you won't get it. Milton Friedman supported this..
