Steve, it's good to see you. Get specific with us now about what people say they care about the most when it comes to economic issues. >> Yeah, Hi.Our NBC decision desk poll ran a bunch of economic concerns by people and said which one is the most important to you. You see here there's unemployment on the list. There's government debt, student loans, and yet overwhelmingly here 45% said inflation and the cost of living is the top economic concern to them.And we saw this across age groups. Cali, >> given how ...

“AI is set to disrupt nearly every workplace. We could see a tsunami of unemployment, and we need to start preparing.”In a guest essay, @GinaRaimondo writes that Democrats should approach AI as an economic issue, not a tech one https://t.co/XTEb0oLcgU ...

Labor Market Trends & Disparities - US economy faced rising prices and a slowdown in hiring, partly due to tariffs [1] - Black Americans experienced a faster increase in unemployment, reaching 75% [2] - Black women's joblessness saw the sharpest spike, with 36000 jobs lost since February [3][4] - The unemployment rate for black women jumped from 54% in January to 67% [26][27] Impact of Policy & Budget Cuts - Massive cuts to the federal workforce are seen as a driving factor behind job losses for black women [4] - Agencies with a larger share of black women employees, like the Department of Education (28% black women), faced significant staff cuts (nearly 46%) [6] - Agencies with largely white staff saw smaller cuts [7] - Diversity, equity, and inclusion (DEI) officers, where black women are heavily represented, are being pushed out due to political pressure [7][8] Economic Consequences & Broader Implications - Job losses among black women are projected to strip around $37 billion from the US economy [4] - A sharp jump in black women's joblessness may foreshadow an impending slowdown for other groups [9] - The loss of jobs for 319000 black women from February to July is largely due to federal purges [15] - The economy suffers when parts of it experience wage, income, and employment decline [24]

Public Health & Pharmaceuticals - HHS is expected to release a report potentially linking Tylenol use during pregnancy to autism, though the report is not yet verified and the department denies it's ready for release [1] - Kenview, the company owning Tylenol, saw shares drop approximately 10% following the report [1] - The American College of Obstetricians and Gynecologists maintains that Tylenol is safe when taken as directed during pregnancy [1] Economy & Employment - The US economy experienced job losses of 13,000 in June, the first time since the pandemic, and only added 22,000 new hires in August [1] - The unemployment rate ticked up to 43%, with youth unemployment topping 10% and the rate for black women rising to 67% [1] - Tech executives like Mark Zuckerberg and Tim Cook have touted new investments in the US, totaling $600 billion each [1] - The Federal Reserve is now more likely to cut interest rates, potentially lowering borrowing costs, and mortgage rates fell, making it the best time in almost a year to refinance [1][2] Immigration & Law Enforcement - ICE conducted a major raid at a Hyundai plant construction site in South Georgia, arresting 475 workers who were allegedly in the US illegally [1][2] - The majority of those arrested were South Korean nationals working for contractors and subcontractors [2] Geopolitics & Defense - A top-secret US Navy SEALs mission in North Korea in 2019 to plant a listening device on Kim Jong-un failed [1][3] - The mission involved submarines, heated dive suits, and the SEALs encountered and shot fishermen [3] Other - Elon Musk could potentially become the world's first trillionaire, contingent on Tesla achieving ambitious growth goals [1]

Tonight, President Trump is dismissing the latest disappointing jobs numbers. They'll say, "You're losing jobs." And then they say, "By the way, we have a correction a month later." It follows a weaker than expected jobs report. Employers only adding 22,000 new hires in August.And revised numbers show 13,000 jobs lost in June. The first time that's happened since the pandemic. Unemployment ticking up slightly to 4.3%.The White House acknowledges it's a setback. Inflation is low and economic growth is solid. ...

Fiscal Policy & Economic Growth - The analysis suggests tariffs are running at an annual rate between $400 billion and $500 billion, potentially improving the deficit, but real GDP growth is considered the key to significantly reducing the deficit as a percentage of GDP [1] - The report anticipates real GDP growth will surprise on the high side of expectations later in the year and into 2026, driven by innovation platforms like robotics, energy storage, AI, multiomic sequencing, and blockchain technology, all catalyzed by AI [1] - The analysis highlights deregulation, particularly in crypto, AI, and nuclear energy, as a significant factor for economic growth, with tax changes encouraging manufacturing and innovation through accelerated depreciation schedules and full expensing of equipment, R&D, and software [1] Inflation & Monetary Policy - The report indicates that while inflation may seem stuck in the 2% to 3% range, innovation-driven productivity gains could lead to deflation in the coming years [2] - The analysis points out that M2 money supply growth has significantly dropped compared to the COVID boom, and the velocity of money is declining, potentially diffusing inflationary pressures [2] - The yield curve, measured by the two-year Treasury yield relative to the three-month Treasury yield, indicates tight monetary policy, which is expected to have disinflationary or deflationary effects [3] - True inflation CPI is reported at 19%, even with tariffs factored in, and consumer inflation expectations are expected to decline [3] Market Indicators & Investment Strategy - The analysis notes that manufacturing has been contracting for the last three years, and services are not in great shape, signaling potential economic concerns [4] - The report highlights that AI-powered capital spending is increasing, supported by new tax rules, while the trade deficit is being addressed [5] - The analysis observes that pending home sales are deteriorating, and new home inventory is high, potentially leading to price cuts and impacting the CPI [5] - The report suggests that the return on investment in the US is expected to increase due to innovation, tax laws, and deregulation, potentially strengthening the dollar [5] - The analysis notes that corporate profits are healthy, but quality of earnings and harnessing new technologies will be crucial for future growth [5] - The report observes that commodity prices are going nowhere, and gold is breaking out to all-time highs relative to metals, possibly signaling deflationary concerns [5]

Economic Indicators & Analysis - Job creation has stalled after four plus years of strong growth, transitioning to a "no hire, no fire" situation [1][2] - Uncertainty surrounding tariffs in May and June contributed to the slowdown in job creation [2] - The Federal Reserve (Fed) is likely to cut interest rates due to the softening job market, although inflation data remains a key factor [5] - The economy may be heading towards a period of rising unemployment and rising inflation [27] Labor Market Disparities - Job losses are not uniform across the board, with white men and black women experiencing employment declines since the beginning of the year [7] - Manufacturing has lost jobs since January, contradicting the argument that tariffs would bring manufacturing back to America [8][9] - Government job losses are largely driven by federal government cuts [9] Trade & Tariff Policy - Incompetent and incoherent tariffs are detrimental to the economy, particularly tariffs on inputs like steel and aluminum [12][13] - Steel tariffs implemented in the previous administration led to the loss of approximately 1,000 jobs [10][11] Inflation & Cost of Living - The cost of living remains a primary concern for American families, outweighing the job situation [19] - Over the past five years, food prices have increased by 26%, auto insurance prices by 30-40%, and housing costs by 50% [19][20] - Inflation remains higher than the Fed's target, creating a dilemma between addressing inflation and stimulating the job market [20] Political Implications - The economy matters politically, especially how people feel about their jobs [15] - Frustrations related to high prices and the perceived lack of economic improvement are influencing voters, particularly swing voters who previously supported Biden and then switched back to Trump [24][25]

How Unemployment Can Trigger Financial Trauma https://t.co/3KxTwCD6nD https://t.co/3KxTwCD6nD ...

We've been working on AI safety for two decades at least. Yeah. I was convinced we can make safe AI, but the more I looked at it, the more I realized is not something we can actually do.You have made a series of predictions about variety of different states. So, what is your prediction for 2027. In 2 years, the capability to replace most humans in most occupations will come very quickly.I mean, in 5 years, we're looking at a world where we have levels of unemployment we never seen before. Not talking about ...

Let's break all this down with CNBC senior economics reporter Steve Leeman, Washington bureau chief at USA Today, Susan Paige, former chair of the Council of Economic Adviserss under President Biden, Jared Bernstein, and NBC's legal analysts, Danny Savalos. Steve, first walk us through all the numbers. >> Well, I guess it wasn't the person who was counting the numbers. I guess it was the numbers themselves.I don't think the president got any improvement. These are weak numbers. Uh the number of jobs we need ...