Scott Simon

Yes, that's right. Employers added 177,000 jobs in April, not quite as many as the month before, but more than forecasters had expected. And the unemployment rate held steady at a low 4.2%. That suggests that even with all the tariff chaos of the recent weeks, employers are still hiring. Wages are also still going up.

Yes, that's right. Employers added 177,000 jobs in April, not quite as many as the month before, but more than forecasters had expected. And the unemployment rate held steady at a low 4.2%. That suggests that even with all the tariff chaos of the recent weeks, employers are still hiring. Wages are also still going up.

Yes, that's right. Employers added 177,000 jobs in April, not quite as many as the month before, but more than forecasters had expected. And the unemployment rate held steady at a low 4.2%. That suggests that even with all the tariff chaos of the recent weeks, employers are still hiring. Wages are also still going up.

So with more people working and paychecks getting bigger, that should provide some juice to keep the economy moving forward.

So with more people working and paychecks getting bigger, that should provide some juice to keep the economy moving forward.

So with more people working and paychecks getting bigger, that should provide some juice to keep the economy moving forward.

But we also learned this week that the economy went backwards a little bit January through March. What do those numbers disclose?

But we also learned this week that the economy went backwards a little bit January through March. What do those numbers disclose?

But we also learned this week that the economy went backwards a little bit January through March. What do those numbers disclose?

Right. Gross domestic product, which is the broadest measure of the economy, contracted in the first three months of the year after fairly strong growth in the waning months of the Biden administration. In particular, consumer spending slowed down. And it's really a two-speed economy here. Wealthy people are still spending pretty freely, but the rest of the country is tightening its belt.

Right. Gross domestic product, which is the broadest measure of the economy, contracted in the first three months of the year after fairly strong growth in the waning months of the Biden administration. In particular, consumer spending slowed down. And it's really a two-speed economy here. Wealthy people are still spending pretty freely, but the rest of the country is tightening its belt.

Right. Gross domestic product, which is the broadest measure of the economy, contracted in the first three months of the year after fairly strong growth in the waning months of the Biden administration. In particular, consumer spending slowed down. And it's really a two-speed economy here. Wealthy people are still spending pretty freely, but the rest of the country is tightening its belt.

One example is McDonald's. A lot of customers there are budget-conscious, lower-middle-income people. This week, the chief financial officer, Ian Borden, said McDonald's U.S. sales had dropped more than 3.5% in the early months of this year.

One example is McDonald's. A lot of customers there are budget-conscious, lower-middle-income people. This week, the chief financial officer, Ian Borden, said McDonald's U.S. sales had dropped more than 3.5% in the early months of this year.

One example is McDonald's. A lot of customers there are budget-conscious, lower-middle-income people. This week, the chief financial officer, Ian Borden, said McDonald's U.S. sales had dropped more than 3.5% in the early months of this year.

McDonald's is expanding its discount menu to try to bring more customers through the doors. But, you know, as an economic indicator, that drop in sales at my old employer McDonald's is not such a happy meal.

McDonald's is expanding its discount menu to try to bring more customers through the doors. But, you know, as an economic indicator, that drop in sales at my old employer McDonald's is not such a happy meal.

McDonald's is expanding its discount menu to try to bring more customers through the doors. But, you know, as an economic indicator, that drop in sales at my old employer McDonald's is not such a happy meal.

Well, and they miss you still. General Motors, another iconic U.S. company, also had some sobering economic news this week. What did they say?

Well, and they miss you still. General Motors, another iconic U.S. company, also had some sobering economic news this week. What did they say?