From Max from @UNFTR. Revisions to the job market data showed that the US economy added 911,000 fewer jobs between 2024 and first quarter of 2025. These figures take a long time to reconcile and usually they’re to the upside. Instead, the Trump administration must now contend with inflation creeping throughout the economy and extreme job losses in the real economy. Buried in this news was the shocking revelation that consumer debt also increased by $16 billion in July, much more than anticipated. Some view this as a sign of a healthy consumer, but as we demonstrate, that’s not the case in the “K-Shaped” economy we live in.
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