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

(www.wsj.com)
462 points JumpCrisscross | 1 comments | 30 Aug 25 20:56 UTC | HN request time: 0.201s | 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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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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monero-xmr[dead post] ◴[31 Aug 25 01:32 UTC] No.45079542[source]▶
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1. 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.