U.S. added just 73,000 jobs in July and numbers for prior months were revised much lower

[Taylor]

Sorry but I’m not about to attempt to pretend that less jobs is somehow a good thing now.

Which is fine. But you also seem to want to ignore or dismiss a big part of the reason why there are fewer jobs being created.

Are we also going to pretend that “under the table” employment of illegals is not common? Honestly there’s no good way to spin yourself out of this.

You guys have been arguing for years about how great illegal immigration is, and how they contribute far more to the budget than they take in government services.

Now you want to argue that they mostly work under the table and don't contribute to the budget.

Which is it?

 

[mrjurrs]

The Trump economy is turning to shit. But hey, maybe this will finally get the Fed to cut rates!

https://www.cnbc.com/2025/08/01/jobs-report-july-2025.html

Just as Vlad planned.

 

[ALiberalModerate]

I’m just enjoying reading through this. I mean, y’all reminiscing about Joe’s “booming” economy. The only things that boomed under Joe were inflation, government jobs and debt, and the price of Uber stock.

Why? Unemployment is largely unchanged. It's been pretty much the same for a year now.

Even under half senile Biden, we had the strongest post pandemic economic recovery of any large economy on earth.

This was all entirely predictable. Companies in the face of tariffs and high economic uncertainty will always pull back on business investment and thus as a result there will be a sharp reduction in job creation. This is free market economics 101, its rather surprising that people that otherwise claim to be conservative don’t understand that.

 

[Taylor]

View attachment 67582693

I guess the markets didnt see it coming either. Or maybe youre just ****ing wrong?

I must have missed the part of Econ 101 that says the stock market is the best resource for determining employment expectations.

 

[Visbek]

The problem is America has really become a tale of two households...

Why should that stop anyone from pointing out that he's making it worse, when he promised to improve the economy?

And why didn't anything he did in his first term help those Poor Little Rich California residents? In fact, he screwed a lot of them by slashing the deductions for state and local taxes. And now he's going to screw them again, by demanding cuts to Medicaid, attacking renewable energy, making them pay taxes on imported goods....

 

[CSharp]

I must have missed the part of Econ 101 that says the stock market is the best resource for determining employment expectations.

You did miss reading comprehension 101.

 

[Geoist]

 

[NOLA Dude]

73k is down from historical job growth patterns. Your post is a lie.

Apparently reading is hard for you too.

this jobs report was best Jul ever for employment among native-born Americans,

 

[Slartibartfast]

Apparently reading is hard for you too.

this jobs report was best Jul ever for employment among native-born Americans,

You are seriously trying to peddle the idea that hundreds of thousands of historical jobs went to immigrants?

Also your little trick with the Y axis is easily noticeable.

 

[Ahlevah]

We went from this in October of last year

The envy of the world | Oct 19th 2024 | The Economist

The envy of the world. Special reports from The Economist. You've seen the news, now discover the story.

www.economist.com

View attachment 67582687

To the worst jobs numbers since COVID.

All because of your lord.

Full-time employment has basically been stagnant for two years. Long-term unemployment numbers have been on an upward trend since the fall of 2023. We were running deficits in the trillions of dollars in a supposedly full-employment economy. The bottom segment of households, especially those headed by a single breadwinner, have been struggling at least since federal pandemic stimulus and forbearance programs ended. Many of them managed to keep themselves afloat, at least until recently, with gig-economy jobs and by charging credit cards.

Now, top-tier households have spent like drunken sailors, supporting their spending by tapping into inflated assets like homes, stocks, and crypto. What happens if prices for those assets take a dump, which is a distinct, even probable, possibility? That spending also dries up, and we can expect Grandma and Grandpa to be griping about their retirements again, since they’re overly invested in VOO and QQQ, essentially going all-in on a handful of overpriced American tech stocks.

 

[TangoNoCash]

Which is fine. But you also seem to want to ignore or dismiss a big part of the reason why there are fewer jobs being created.


You guys have been arguing for years about how great illegal immigration is, and how they contribute far more to the budget than they take in government services.

Now you want to argue that they mostly work under the table and don't contribute to the budget.

Which is it?

I don’t think it’s great. It’s jobs Americans aren’t willing to do. Employers take advantage of those migrants and profit immensely off the illegal labor. The government looks the other way. You and I benefit from it. I believe it should be legitimatized. It’s not difficult to understand. It also has zero to do with whether the businesses report it or pay cash for the labor.

 

[Kushinator]

You call it quite well!

Fewer people is fewer people working. Why is this so hard?

Not much of an argument there.

You have no argument. Even @Mycroft knows better than to deviate from the cult script.

 

[Kushinator]

You'll have to call a press conference and alert everyone that basic economics has been wrong all this time.

Show us some data that says population is declining to the point where it is reducing employment growth. I'll wait.

You are not going to respond though....

 

[Taylor]

Even under half senile Biden, we had the strongest post pandemic economic recovery of any large economy on earth.

I certainly hope so. We overstimulated the economy with inflation taking hold months before it did in other countries, peaking higher than it did in most countries, and persisting longer than most countries.

This was all entirely predictable. Companies in the face of tariffs and high economic uncertainty will always pull back on business investment and thus as a result there will be a sharp reduction in job creation. This is free market economics 101, its rather surprising that people that otherwise claim to be conservative don’t understand that.

Yes uncertainty certainly plays a role as well, but the effect of a pullback on immigration on jobs numbers is pretty certain.

 

[Taylor]

Show us some data that says population is declining to the point where it is reducing employment growth. I'll wait.

Why? I never made such a claim.

Maybe you can show us some data that says population is declining to the point where it is reducing employment growth. I'll wait.

 

[Ahlevah]

Even under half senile Biden, we had the strongest post pandemic economic recovery of any large economy on earth.

That “recovery” was built on unprecedented levels of federal spending and debt, most of which was a direct injection of cash into the pockets of Americans in order to keep the consumer-driven debt merry-go-round going. What long-term “growth” did it achieve? When all is said and done, what do we have to show for this spending orgy other than more debt and inflated asset prices? We’re still running deficits that are 6-7% of GDP in a supposedly full-employment economy. Where is the real growth? Are we making more shit, like cars? No.

This was all entirely predictable. Companies in the face of tariffs and high economic uncertainty will always pull back on business investment and thus as a result there will be a sharp reduction in job creation. This is free market economics 101, its rather surprising that people that otherwise claim to be conservative don’t understand that.

The bigger problem is not tariffs, but debt—government debt, household debt, and corporate debt. Another one is over-inflated asset prices, which will need to drop a lot to get anywhere near back to normal. I mean, who the **** can afford a $900,000 house?

 

[Taylor]

You call it quite well!


You have no argument. Even @Mycroft knows better than to deviate from the cult script.

Dunno. I'm sure you know more about "cult scripts" than I do.

 

[Slartibartfast]

Given the revisions over the last two months, its very possible we had negative job growth.

 

[Taylor]

again bullshit. It's hilarious that you failed to point out this very "common sense" result of immigration until the revision was announced. In fact, it was soooo ****ing obvious that exactly NOONE has pointed it out until today.

Lots of people have. Lots of economists have. But you have to be a person that reads and is intellectually engaged to know about it.

 

[TangoNoCash]

Dunno. I'm sure you know more about "cult scripts" than I do.

Well let’s pretend you’re right and all this is related to deportation, it will only drive up prices and inflation. How is that consistent with the promise of lowering prices? Do you like higher prices? Add in tariff increases and it easy to see we are going to be in for a bad time. How is this making America great?

 

[Kushinator]

Why? I never made such a claim.

Maybe you can show us some data that says population is declining to the point where it is reducing employment growth. I'll wait.

You said:

You'd like it higher, but lower numbers are certainly not unexpected given that we no longer have 100,000's of people crossing the border.

Show us something... show is anything to support your claim.

Dunno. I'm sure you know more about "cult scripts" than I do.

You don't know any better, and the best you can do is try to rationalize this shit development by making things up.

 

[CSharp]

Lots of people have. Lots of economists have. But you have to be a person that reads and is intellectually engaged to know about it.

calling bullshit. prove me wrong.

 

[Taylor]

Well let’s pretend you’re right and all this is related to deportation,

I didn't say all of it. I said that we should expect lower numbers than we're accustomed to given how much we've pulled back on immigration.

it will only drive up prices and inflation.

That could be possible indirectly through higher wages (maybe supply chain bottlenecks?), but it would temporary and likely quite small.

 

[TangoNoCash]

I didn't say all of it. I said that we should expect lower numbers than we're accustomed to given how much we've pulled back on immigration.


That could be possible indirectly through higher wages (maybe supply chain bottlenecks?), but it would temporary and likely quite small.

I disagree. Happy to bookmark this post.

 

[lynnwinslow]

It's not a gotcha, it's common sense, and I'd rather you stop and think for yourself. If we have a sudden and significant drop in the number of young people looking for jobs, setting up a household, and trying to get established in a new country, do you think that will...

A) Increase the number of jobs in the country because more people want to work when there are fewer immigrants​

​

B) Have no impact on the number of jobs, because nobody wants to hire immigrants or produce goods and services for immigrants.​

C) Decrease the number of jobs created, because the labor pool has decreased in size, and there are fewer people creating demand for goods and services.​

Tell us why fewer workers which leads to less demand which leads to a shrinking economy which leads to market instability is good for the US?