Joey Politano ๐ณ๏ธโ๐
@JosephPolitano
Writing a data-driven newsletter about economics @ | Nuance? In this economy? | Full Employment Stan, Brazilian Coffee Tariff Victim
1.5K Following 94.6K Followers
Sort of insane fact about how broken US urban planning isโAmerica now spends more building *just the lights for roads and highways* than on all subways & ground mass transit combined
Spending on roadway *pavement* is 18x transit spending
Show more
The US tech sector continues bleeding jobs in official data released todayโoverall, employment decreased by 17k last month and is down 69k over the last year
That's nearly as bad as the worst of the 2024 tech-cession, and much worse than the 2022 boom or even pre-2020 norms
Show more
NEW US JOBS DATA:
Non-farm Payrolls: +29k
Unemployment Rate: 4.2% (+0.1%)
Prime Age (25-54) Employment-Population Ratio: 80.7% (+0.3%)
Average Hourly Earnings: +0.1%
American factory construction inched down to the lowest level since 2022 in official data released today as CHIPS Act projects finish and tariffs weigh on nearly all industries
Total US factory construction is down 33% from its 2024 highs and 20% over the last year alone
Show more
NEW from me:
Over the last four years, America has lost more than 200k jobs in creative fields like publishing, film, TV, or graphic design. It's the worst stretch for arts jobs outside of major recessions.
How much is AI to blame? And can the arts' business model survive?๐งต
Show more
"You're a dilettante, a womanizer, a suspected Effective Altruist..."
bro theyre gonna do mccarthyism to effective altruists
The Census Bureau's official quarterly financial data came out this week, and companies in the information technology sector broke another investment record amidst the AI boom
Net holdings of property, plant, & equipment are up more than $350B over the last year alone
Show more
unspeakably excited to finally have this book in my hands
The core economic pitch for Trump's deportations was "fewer immigrants means more jobs for Americans"
Unsurprisingly, that's just not happening
Prime-age employment rates for native-born Americans held near the lowest levels in more than four years in data released today
Show more
The US tech sector continues bleeding jobsโofficial data released this morning shows employment dropped by 7k last month and is down 48k over the last year
That's not as bad as the worst of the 2024 tech-cession, but extremely bad compared to the 2022 boom or even pre-2020 norms
Show more
NEW US JOBS DATA:
Non-farm Payrolls: +162k
Unemployment Rate: 4.1% (+0%)
Prime Age (25-54) Employment-Population Ratio: 80.4% (+0%)
Average Hourly Earnings: +0.3%
What I read in August:
America's COVID-era warehouse boom is truly overโreal US warehouse construction has fallen to the lowest level since 2019 in official data released today
It's down 40% since its 2023 peak and is down 11% over the last year alone
Show more
Official data was released today, and after adjusting for inflation, American office construction has fallen to the lowest level since 2011
It's down nearly 60% since the onset of the pandemic and 15% over the last year alone
Show more
American factory construction continued declining in official data released today as CHIPS Act projects finish, IRA projects get cancelled, and tariffs weigh on nearly all industries
Total US factory construction is down 33% from its 2024 highs and 20% over the last year alone
Show more
US data center construction reached another new record high in official data released today, exceeding a pace of $75B/yr (and this only includes data center facilities, not the expensive computers within)
Spending is up 57% over the last year and 442% since ChatGPT's launch
Show more
Sorry, but this is the most obviously AI-generated op-ed ever. It has "it's not X, it's Y" construction in both the first 2 paragraphs. Pangram has it as 100% AI
One of the most prominent finance billionaires submitted this? The WSJ just ran it? Are there no standards anymore?
Show more
every 6 months the Trump administration realizes lowering tariffs will lower prices, applies this insight to one specific good, and then proceeds to never introspect beyond that. Itโs honestly beautiful in its stupidity.
Show more
Heartwarming: this 95 year old diner still makes tacos the old fashioned way
The core economic pitch for Trump's mass deportations was "fewer immigrants means more jobs for Americans"
Unsurprisingly, that's just not happening
Prime-age employment rates for native-born Americans fell to the lowest levels in more than four years in data released today
Show more
