The Real Story Behind These New Tariffs

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 7 December 2024

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

#564: Our economy just gave us two big surprises that shape how we'll do business and invest in 2025. Our job market is going through major changes. Sure, we added 227,000 jobs - way more than anyone expected. Healthcare and hospitality are booming. But here's what you need to watch: our unemployment rate just climbed to 4.2%. When you look at how many people are joining or leaving the workforce, you'll spot some interesting signals about where we're headed. You've probably heard about these new trade proposals making waves. They're targeting our biggest trading partners - Mexico, Canada, and China. Let's talk about what tariffs really mean for your wallet. Some industries win, others lose. Your grocery bill? That might change. Your job prospects? That depends on your industry. We'll help you connect these dots. This matters because you need to know how these shifts affect your money, your job, and your business decisions. Our markets are changing. Our policies are evolving. But when you understand what's happening, you can make smarter moves. Join us as we break down these economic changes into practical insights you can actually use. For more information, visit the show notes at https://affordanything.com/episode564 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Our economy just gave us two big surprises that shape how we will do business and invest in 2025,
0:06.8	because we are going through some economic transition right now.
0:09.7	Our job market is going through some big changes.
0:12.4	We've added new jobs, but our unemployment rate has also climbed and people are leaving the workforce.
0:19.7	We'll be talking about that today, and then we will
0:21.7	also deep dive into tariffs. What are tariffs? What are the pros? What are the cons? What are
0:26.9	the consequences? Let's take a deep, informed, research-based, analytical look at the world
0:33.9	of tariffs and what these might mean. Welcome to the Afford Anything Podcast, the show that understands you can afford anything
0:41.4	but not everything, the show that is obsessed with opportunity costs and tradeoffs.
0:47.4	We cover five pillars, financial psychology, increasing your income, investing, real estate,
0:52.6	and entrepreneurship.
0:53.5	It's double eye fire. I'm your host, Paula Pant., and entrepreneurship. It's double-eye fire.
0:55.4	I'm your host, Paula Pant, I trained in economic reporting at Columbia. And on the first
0:59.8	Friday of the month, I bring you a monthly economic update, a synopsis of what's been happening
1:06.3	in our economy over the past month. So welcome to the December 24, first Friday economic update.
1:16.1	Let's begin by talking about the big economic news that dropped this morning,
1:20.1	which is the November jobs report.
1:22.3	The economy added 227,000 new jobs in November.
1:27.1	Now that beat analyst expectations and it beat what we've
1:30.2	recently been doing. Job growth has averaged 172,000 per month over the past three months.
1:36.8	And remember in October, it got particularly beat up because of the hurricanes and the
1:41.3	Boeing strike. Analysts were expecting that in November we would add 200,000 new jobs,
	...

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