Before we start: Just a heads-up that today’s Secret Podcast will be a little late. And on Sunday you’ll get a movie club in the Bulwark+ Takes feed with Sarah, Sonny, and me talking about Idiocracy. Spoiler: That movie is only funny if you’re not living it. And for my neighbors in
1. NumbersThe totally woke, radical DEIs at the Bureau of Labor Statistics are at it again this morning with the August job numbers and they are . . . not great.¹ The economy added just 22,000 jobs. I know what you’re thinking: Hey, at least we’re still adding jobs every month. And fair enough. We ought to cherish positive job growth while it lasts. Let’s dig into the numbers. For starters, the jobs market is headed in the wrong direction. Job growth keeps trending down and the August number was way under expectations—analysts were expecting 75,000 new jobs. As you get under the hood the report looks even worse.
Want to see some charts? I understand how complicated economics can be, so I’ll make it simple. When it comes to adding jobs, you want the numbers to go up, which is what they did under Joe Biden almost every month of his presidency. Then Trump became president and immediately numbers go down. When it comes to the unemployment rate you want the numbers to stay low. And unemployment under Biden was historically, unimaginably, low. Trump becomes president and all of a sudden, line goes up. It’s complicated but I’m pretty sure that if I make the arrows big enough, even this guy can understand it . . ... Join The Bulwark to unlock the rest.Become a paying member of The Bulwark to get access to this post and other subscriber-only content. |