(C) BoingBoing
This story was originally published by BoingBoing and is unaltered.
. . . . . . . . . .
The Trump economy is here and it doesn't look good [1]
['Jason Weisberger']
Date: 2025-08-01
The market is tumbling as analysts learn they can not trust the Government's jobs and unemployment numbers.
In sharing July's awful jobs report, the Trump Administration also "recalculated" prior months to show less growth, throwing the reliability of the entire process into question.
As of mid-morning, the Dow Jones had dropped 542.70 points, which is 1.23%. The July jobs report showed that the growth rate slowed sharply and the unemployment rate is up. The job market grew by 73,000, less than the 115,000 that had been estimated. Worse, however, is that previous months were "recalculated" to show that the slight number of job gains were nothing more than a mirage. June numbers were revised from 147,000 to 14,000 — the slowest month of growth since mid-Covid. RawStory
Previously:
• BlackRock CEO Larry Fink sounds alarm: 'The economy is weakening as we speak'
• Trump's tariffs finally makes sense: Ruble soars past dollar
• JD Vance crawls off couch to protect Trump's economy-crushing tariffs
[END]
---
[1] Url:
https://boingboing.net/2025/08/01/the-trump-economy-is-here-and-it-doesnt-look-good.html
Published and (C) by BoingBoing
Content appears here under this condition or license: Creative Commons BY-NC-SA 3.0.
via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/boingboing/
