Stocks wobble as Wall Street wrangles with whether the job market is too weak
apnews.com
U.S. stocks wobbled lower as Wall Street questioned whether the U.S. job market has slowed by just enough to get the Federal Reserve to cut interest rates to help the economy, or by so much that a downturn may be on the way.
  • bradorsomething@ttrpg.networkEnglish
    61·
    6 hours ago

    The market went down because of selling at the top. Headlines always have a reason after the fact, never a prediction before.

  • Thorry@feddit.orgEnglish
    231·
    12 hours ago

    The current US economy is completely dependent on two things. One: low unemployment and steady growth in available jobs. Two: AI getting a return on investment by replacing millions of jobs with computers.

    And somehow we are still going about our business like this is totally normal and won’t blow up any second now.

  • Buffalox@lemmy.worldEnglish
    16·
    14 hours ago

    Was there really any need at all for a slower job market?
    Usually the reason for wanting that is an overheating job market/economy, but I don’t recall seeing anything indicating either.
    A sign for the job market would be quickly increasing wages, due to shortage of workers. But the only shortage of workers I’ve seen is due to Trump policies, and in very specialized areas like top AI developers/researchers, but those are not general expressions of either economy or job market.

    For the economy a typical sign is inflation due to shortages, but the inflation is driven by stupid policies like tariffs, and not so much free market economics. The increasing prices are driven by adding more taxes on goods. Not because there is any shortage anywhere!
    And if anyone ever thought this was an overheating market, they are probably blind to the fact that wages haven’t covered for the inflation, and although the inflation is a bit higher than the popular target of 2%, it’s far from overheating economy territory, especially when considering the background for the inflation.

    The truth is that the American economy is just stupid because the President is illegally overreaching his mandate with extremely stupid policies, causing stupid results for the economy.

    Americans will probably get their low interest rates soon, but don’t cheer that just yet, because the reason will probably be that the economy has gone into recession, and with a declining value of the USD, all Americans are getting poorer.

    • Viking_Hippie@lemmy.dbzer0.comEnglish
      141·
      13 hours ago

      The truth is that the American economy is just stupid

      Could have just said this. It was nonsensical from any perspective except “line must go up so the rich can get richer” for DECADES before the Mango Mussolini came along and made it too obvious to deny.

      • Buffalox@lemmy.worldEnglish
        9·
        13 hours ago

        I suspect most people sense it’s “stupid” without really being interested in the subject, but I also think some lighter real economics context is important to understand how and why.

      • shalafi@lemmy.worldEnglish
        12·
        7 hours ago

        OK. Name an economic system that does not depend on constant growth. I’ll wait patiently.