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

(www.wsj.com)
462 points JumpCrisscross | 3 comments | 30 Aug 25 20:56 UTC | HN request time: 0.001s | 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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RhysU ◴[31 Aug 25 04:02 UTC] No.45080271[source]▶
I do not trust NY job numbers. Their unemployment system remains a disaster from the Covid years.

Source: Me trying to use it and encountering prior fraud. Light reading suggests many have experienced it.

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1. margalabargala ◴[31 Aug 25 04:07 UTC] No.45080289[source]▶
Shouldn't that be roughly constant across the year though? We don't need to trust the numbers to be exact, to observe a precipitous drop.
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2. RhysU ◴[31 Aug 25 12:35 UTC] No.45082710[source]▶
Should fraud rates in public taxpayer-funded systems stay constant or go down over time, assuming no new fraud type is invented?
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3. margalabargala ◴[31 Aug 25 21:20 UTC] No.45087204[source]▶
Depends what if anything is being done to combat it.

One of the following is true:

- The numbers somewhat-accurately reflect the trend of employment

- Fraud levels were reduced 66x in one year

If it was the second one, that's a sufficiently massive reduction that news stories would be written about it. There would be stories about this great victory over fraud.

A quick search showed no particular anti-fraud measures or claims of effectiveness unique to that time period.