CounterPunch.org | Import Prices Soar: Trump Says Exporters Too Low IQ to Eat the Tariffs by Dean Baker

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Trump’s “liberation‑day” tariffs, which he insisted would be absorbed by exporters so consumers wouldn’t feel higher prices, have in fact been passed almost entirely onto U.S. businesses and shoppers; careful research shows that more than 90 % of the tariff burden falls on corporations or consumers, a conclusion reinforced by Bureau of Labor Statistics import‑price data that reveal a year‑over‑year rise of 2.9 % as of April—contrary to the expected drop if exporters were shouldering the costs. After a period of falling import prices in 2023 and 2024, the shift to rising prices adds roughly 0.4 percentage points to overall inflation, and the effect is likely to be felt at the retail level, even though wholesalers and retailers may absorb part of the increase. The recent surge is also amplified by Trump’s war with Iran, which pushes up global energy and gas prices, further inflating the cost of goods imported into the United States. In short, exporters have not eaten the tariffs; the higher import prices are a key factor behind the current rise in U.S. consumer prices.

Read more: https://www.counterpunch.org/2026/05/19/import-prices-soar-trump-says-exporters-too-low-iq-to-eat-the-tariffs/

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Bloomberg Technology | US Is Starting to See Heavy Job Losses in Roles Exposed to AI by Matthew Boesler

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In the United States, AI‑exposed occupations experienced notable job losses for a second consecutive year in 2025, with customer‑service representatives, certain secretaries and salespeople hit hardest. According to Bureau of Labor Statistics data released on May 15 2026, a set of 18 occupations identified as vulnerable to automation—covering roughly 10 million jobs—declined by 0.2% between May 2024 and May 2025, contrasting with an overall employment gain of 0.8% during the same period.

Read more: https://www.bloomberg.com/news/articles/2026-05-15/us-is-starting-to-see-heavy-job-losses-in-roles-exposed-to-ai

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US Top News and Analysis | In the U.S., CEO pay grew 20 times faster than workers' wages in 2025, says Oxfam

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A new Oxfam and International Trade Union Confederation report shows that U.S. CEO compensation rose dramatically in the past year—over 25 %—while average hourly wages for private‑sector workers grew only about 1.3 % after inflation, leaving CEOs earning roughly 281 times more than a typical employee. The widening gap coincides with a broader affordability crisis: 65 % of consumers say price hikes outpace their incomes, inflation has climbed to 3.3 % in March, and roughly three‑quarters of Americans report tighter finances, with many cutting discretionary spending, dipping into savings, or taking extra jobs. The report links this disparity to systemic inequality and calls for stronger labor policies, such as raising the federal minimum wage and taxing the ultra‑wealthy; a proposed “Living Wage for All” bill would lift the minimum wage for large employers to $25 by 2031 and for smaller ones to $25 by 2038.

Read more: https://www.cnbc.com/2026/04/30/us-ceo-pay-grew-20-times-faster-than-workers-wages-in-2025-oxfam.html

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Our new "Golden Age."

#TrumpRecession #Trump #Tariffs #JobGrowth #LaborStatistics #Unemployment #EconomicStagnation

US Labor Department launches investigation into economic data accuracy

The U.S. Department of Labor’s internal watchdog has initiated an investigation into how the Bureau of Labor Statistics (BLS) collects jobs and inflation data. This comes after the White House sharply criticized the agency, and revisions to job growth figures showed weaker-than-expected results. The... [More info]