{"id":1142,"date":"2026-06-06T06:07:58","date_gmt":"2026-06-06T06:07:58","guid":{"rendered":"https:\/\/nextaddressamerica.com\/?p=1142"},"modified":"2026-06-06T06:07:58","modified_gmt":"2026-06-06T06:07:58","slug":"economist-reveals-clear-pain-point-in-trumps-economy-that-jobs-report-misses","status":"publish","type":"post","link":"https:\/\/nextaddressamerica.com\/?p=1142","title":{"rendered":"Economist reveals\u200b ‘clear pain point’ in Trump\u2019s economy that jobs report misses"},"content":{"rendered":"
\n

On Friday, the Trump administration celebrated a better-than-expected jobs report, which showed the U.S. gained 172,000 jobs<\/u> in May. But while President Donald Trump may be patting himself on the back, one respected economist warns that the good news misses a \u201cclear paint point\u201d that shows the economy is shakier than the job numbers suggest. <\/p>\n

Read more How Trump lost all his cards: economist<\/a><\/p>\n

\u201cThis is the clear pain point in the economy,\u201d posted Heather Long<\/u>, chief economist at Navy Federal. \u201cWage growth in May was the lowest in 5 years. May wage gains: 3.4 percent (for past year). May inflation: Likely to be ~4 percent.\u201d<\/p>\n

That\u2019s bad math for the economy, meaning that inflation is outpacing wage gains. Or as Long puts it, \u201cIt’s easier to get a job now, but it’s hard to find a job where your pay will keep up with current inflation.\u201d What\u2019s more, Long notes<\/u> that wage gains have hit their lowest point in five years, since May 2021, when the pandemic was still wreaking havoc on the global economy. <\/p>\n

Other experts have agreed with Long\u2019s not-so-fast assessment of Friday\u2019s positive job report.<\/p>\n

According to Bankrate Senior Economic Analyst Mark Hamrick<\/u>, \u201cIt’s very likely, given recent trends, that real wages will continue to fall and workers and their families will find it increasingly difficult to make ends meet.\u201d Hamrick also argues that affordability challenges have reduced job mobility, and that what job growth there has been is limited to a few sectors, which doesn\u2019t bode well for economic strength overall. At the same time, he suggests that a strong labor market makes it less likely that the Fed will cut the interest rate, resulting in higher borrowing costs and slower business expansion. <\/p>\n

Read more Trump gives away the game with hires that pose \u2018grave risk to US security\u2019: DOJ alum<\/a><\/p>\n

And as U.S. economic policy expert and former chief economist for the GOP Ways and Means Committee, Donald Schneider, noted, there is an interesting correlation between the rising job numbers and the removal of a key Trump policy: tariffs. Schneider shared a chart that plots both the effective tariff rate and job growth, saying<\/u>, \u201cThese things might be related.\u201d<\/p>\n

The chart indicates that as Trump\u2019s tariffs began to fall at the end of last year, the plunging job growth rate started leveling off. Then tariffs plummeted after the Supreme Court slapped them down in February, and lo and behold, that\u2019s precisely when the job numbers began racing upwards. So as Scheider points out, there appears to be a direct link between the two trends. Trump has announced his intentions to reintroduce tariffs<\/u>.<\/u><\/p>\n

Europac chief economist Pete Schiff noted another issue with the job news, posting<\/u>, \u201cUnfortunately, all of those jobs were either in leisure and hospitality, or in government or government-related services. That drives demand for imported goods, increasing trade deficits and goods prices.\u201d<\/p>\n

As one of his respondents explained, \u201cWe are subsidizing consumer demand without creating the domestic goods to match. Pumping government payrolls and service wages gives consumers cash to spend, but since the U.S. isn’t producing physical goods, that liquidity immediately leaks out of the country to buy foreign imports.\u201d<\/p>\n

Read more Trump\u2019s henchmen are struggling to disguise his \u2018daily decline\u2019<\/a><\/p>\n

\u201cExactly,\u201d Schiff agreed. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

On Friday, the Trump administration celebrated a better-than-expected jobs report, which showed the U.S. gained 172,000 jobs in May. 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