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

(www.wsj.com)
462 points JumpCrisscross | 4 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. JumpCrisscross ◴[30 Aug 25 23:34 UTC] No.45078958[source]▶
Would note that the data the New York Times cited are seasonally adjusted [1]. The assumptions of those adjustment models may not currently apply.

It’s going to be difficult to suss out a signal from employment data until October or November, by when we should have about half a year of post-tariff data [2] to compare with ‘24. (We may not know anything surely for a year.)

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

[2] https://www.piie.com/research/piie-charts/2025/trumps-tariff...

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2. jameshart ◴[31 Aug 25 03:13 UTC] No.45080045[source]▶
Whatever mayor they're 'under threat of' can't be much worse than the one who's currently in place who is under threat of indictment from the federal government over bribery, fraud, and illegal foreign finance contributions, who has has eight of his staff resign in the last year under federal investigations, and lost multiple other staff resigning on principle.

People are already acting like Mamdani is responsible for everything that happens in NYC; they should pay more attention to the guy who's been in charge the past 3 years.

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3. righthand ◴[31 Aug 25 03:45 UTC] No.45080200[source]▶
Mamdani advocating that the state gov tax millionaires 2% more is not the same as having the power to tax millionaires. You should look up what a mayor actually does (hint: balance budgets with city council and strike new initiatives and work with the police department).

2% is hardly worth fleeing.

And Mamdani hasn’t even been elected yet.

4. tombert ◴[31 Aug 25 04:36 UTC] No.45080405{3}[source]▶
Weren't the charges against Eric Adams dismissed with prejudice? [1] They shouldn't have been dismissed at all, but the judge didn't want the president to be able to directly control the major of NYC.

I personally think he should at least be impeached because I have the woke liberal opinion that people in power taking bribes is bad.

[1] https://abcnews.go.com/Politics/mayor-eric-adams-case-dismis...