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
That's true, but it didn't predate the election of a man who has made his understanding of tariffs and economics crystal clear in the months and years leading up to January 2025.
> Trump has made tariffs a central campaign pledge in order to protect US industry. He has proposed new 10-20% tariffs on most imported foreign goods, and much higher ones on those from China.
* Groups like Project 2025 spent years preparing an assault on our legal system
* This time Trump populated his administration with sycophants from day 1, instead of starting out with establishment figures
* The GOP has spent the last 8 years reconfiguring themselves into supplication
This time, Trump is fully unhinged and unfettered, and he knows the legal peril he faces if the White House isn’t GOP-held for the rest of his life.
This combined with the utter self-emasculation of the Republican Party to Trump's incoherent, or at best self-serving, garbage is the most worrisome thing of all.