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Six months into tariffs, businesses have no idea how to price anything

(www.wsj.com)
462 points JumpCrisscross | 2 comments | 30 Aug 25 20:56 UTC | HN request time: 0s | source
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lazarus01 ◴[30 Aug 25 22:32 UTC] No.45078568[source]▶
In NYC, for the first 6 months of 2025, 994 new private sector jobs were created [1]. During the same period last year, there were 66,000 new jobs created.

Higher cost of doing business from tariffs has frozen hiring. With a frozen job market, there’s less revenue coming in.

NYC is a leading indicator for the rest of the country.

[1] https://www.nytimes.com/2025/08/13/nyregion/nyc-jobs.html

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1. bitshiftfaced ◴[30 Aug 25 22:59 UTC] No.45078740[source]▶
Looking at total private jobs over time, growth slowed after the post covid bump, but 2025 doesn't look all that different from 2024: https://fred.stlouisfed.org/series/SMU36935610500000001SA#
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2. JumpCrisscross ◴[30 Aug 25 23:32 UTC] No.45078942[source]▶
Both the NYC Employment Data the New York Times cites [1] and these Fed data [2] are seasonally adjusted. Would take them with a shaker of salt given the assumptions in those adjustment models are likely currently under assault. (Hehe.)

[1] https://www.nyc.gov/assets/omb/downloads/pdf/sa-methodology-...

[2] https://www.census.gov/data/software/x13as.html