No. of Recommendations: 5
This is a 6 year old article so the numbers may not be accurate, but the trends they suggest for what happens to other workers when people lose their jobs is probably still applicable.
Updated employment multipliers for the U.S. economy https://www.epi.org/publication/updated-employment...Are consumers ahead of the curve?
https://www.reuters.com/markets/us/us-retail-sales...WASHINGTON, Feb 14 (Reuters) - U.S. retail sales dropped by the most in nearly two years in January, likely because of frigid temperatures and moderation following hefty gains in the past four months, suggesting a sharp slowdown in economic growth early in the first quarter.
The larger-than-expected decline in retail sales reported by the Commerce Department on Friday was across the board. Economists speculated that rising prices and uncertain economic outlook amid confusion over tariffs on imports were forcing consumers to tighten their purse strings.
Pre-emptive buying in anticipation of tariffs that would raise prices for goods helped to boost retail sales in recent months. But consumer sentiment has deteriorated, with one-year inflation expectations hitting a 15-month high in early February as households perceived that "it may be too late to avoid the negative impact of tariff policy," a University of Michigan survey of consumers showed last week.
"Maybe people are getting confused on the tariff story and think they are happening immediately and are therefore not even considering a purchase," said James Knightley, chief international economist at ING.
No. of Recommendations: 2
"Maybe people are getting confused on the tariff story and think they are happening immediately and are therefore not even considering a purchase," said James Knightley, chief international economist at ING.
Hmm. I'd want some data for that speculation. I would have thought they would want to get in purchases before the tariffs, to avoid the price increase that will result from the tariff(s). But, then, I know how tariffs work. The 'common man' very well may not, and may think the prices have already gone up. Though, it would be easy to verify that (i.e. just go check the prices).
