Trump's broad tariffs go into effect just as US economic pain is surfacing Global financial markets have taken President Donald Trump's tariff adjustments in stride. Shares in Asia and Europe, as well as U.S. futures, are mostly higher Thursday after Trump started imposing h...

Brilliant from my colleague Rachel West "There’s one person who can afford to be cavalier about the uncertainty that he’s creating, and that’s Donald Trump. The rest of Americans are already paying the price for that uncertainty.” apnews.com/article/trum...

It has been the honor of my life to serve as Commissioner of BLS alongside the many dedicated civil servants tasked with measuring a vast and dynamic economy. It is vital and important work and I thank them for their service to this nation.

TCF on the feckless firing of the BLS Commissioner

Big news in today's #jobs report are the revisions. The labor market is much weaker than originally reported the last two months. While payrolls grew 73k in July, May and June data were revised down a total of 258k to 19k and 14k, respectively, bringing 3-month average growth down to 35k.
#EconSky

The Hidden Costs of Trump’s Economy: Skipped Meals, Rising Debt, and the Impossible Choices Facing American Families In a new survey conducted by Morning Consult, The Century Foundation asked 2,007 Americans how they are managing amid the high cost of living in today’s

Not the price-cutting and job-creating change Americans crave.
tcf.org/content/repo...

U.S. Bureau of Labor Statistics The Bureau of Labor Statistics is the principal fact-finding agency for the Federal Government in the broad field of labor economics and statistics.

Workers not feeling liberated on Trump's liberation day -- anemic job growth +73k, #unemployment rate ⬆️ to 4.2%. Highest black unemployment rate (7.2%) since October 2021!! #econsky bls.gov/news.release/e…

This is not the economy Americans are looking for.

No Country for Young Grads — The Burning Glass Institute For the first time in modern history, a bachelor’s degree is no longer a reliable path to professional employment. Recent graduates face rising unemployment and widespread underemployment as structura...

In a job market where employers are gun shy about hiring, it's not only laid off workers struggling to find jobs. Young people – including new college graduates – are experiencing high rates of unemployment as they enter the workforce. www.burningglassinstitute.org/research/no-...

Table A. Job openings, hires, and total separations by industry, seasonally adjusted - 2025 M06 Results

In short, fewer people are being laid off, but once they are it's harder to find work. That echoes the June JOLTS data which shows new hires in the economy down by 261,000 in the month of June, even as separations have slowed. www.bls.gov/news.release...

(Existing) insured unemployment is up 72,000 over last year - but the number of new claims has slowed over the last month from a high of 250,000 on the week ending June 7 to 218,000 in the last report of July (July 26).

Americans Wanted a Cost of Living Warrior. Trump Is the Opposite Americans are increasingly concerned with cost of living issues. They voted for Donald Trump to help, but he's done the opposite.

That’s one concrete example of why polling released today by the @tcfdotorg found that 76 percent of Americans are concerned about a recession, as described by Julie Margetta Morgan www.rollingstone.com/politics/pol...

The total number of people on unemployment stayed high, just off the 3 and half year high reached in June, coming in at 1.946 million for the week ending July 19 (unchanged from last week)

Today's #unemployment claims report underscores a fundamental problem in today's job market - the slow down in hiring. www.dol.gov/ui/data.pdf

Guidance ⬇️ www.dol.gov/sites/dolgov...

The Department of Labor today banned those without work authorization from receiving previously available services--like providing information to immigrant workers about basic employment rights and the process of acquiring work authorization.

The Trump administration is launching a whole of government attack on immigrants and foundational pathways to the middle class likeHead Start, Title X family-planning clinics, career and technical education programs, with more agencies expected to roll out similar announcements in the coming days. 🧵

New jobless claims dipped below their plateau of 240,000 per week that persisted in the first half of June, falling to 236,000 (S.A.) in the week ending June 21 (down 10,000). Economic pain is certainly worse-latest figures show that fewer than 3 in 10 jobless workers are currently collecting UI.

Whether it’s new college graduates or laid off federal contractors, Americans are having a harder time finding new employment as the summer begins.

There are now 1.974 million people relying on unemployment benefits (+37,000) as of June 14, which is the highest total in more than three and a half years (November 2021). www.dol.gov/ui/data.pdf

As tens of thousands of federal workers exhaust severance packages or deferred resignation, broader job market weakness will certainly spread in the second half of the year.

But it's clear that public cuts are reverberating in the private sector with new claims up in DC, MD and VA last week as well as in Texas and New York.

But it's clear that public cuts are reverberating in the private sector with new claims up in DC, MD and VA last week as well as in Texas and New York.

UI claims continue to come almost exclusively from the private sector, with only 535 federal unemployment claims last week.

What’s more concerning, the total number of individuals insured by state UI programs is approaching 2 million, a level not reached since November 2021. For the week ending June 7, there are 1.945 million workers on state UI rolls, down just 6,000 from the week prior.

For the third straight week, new UI claims came in at above 240,000, ticking down to 245,000 claims for the week ending June 14, after reaching an 8 month high last week.

www.dol.gov/ui/data.pdf
On heels of slowing retail sales, the latest #unemployment insurance (UI) claims once again revealed softening conditions in the economy. #EconSky

I hoped it was a joke

As immigration, trade, and budget policy rattle our economic equilibrium, it is not hard to imagine more policy-driven layoffs. Sounder economic policy is badly needed.

There are 131,000 more Americans this year seeking to get by on paltry benefit payments that average just $450 per week.

At a time of shrinking federal support for families and communities—look no further than the resumption of student debt collection—the uptick in layoffs should not be taken lightly.