Steven Rattner

speaker

344 appearances 8 recordings 1 series first heard Sep 2024 last heard 16 Apr

Steven Rattner’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 4 in all, peaking in Dec 2025 with 2.

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You can inherit a bad economy, but then you're supposed to do stuff to make it better.

And virtually every statistic shows it's, in fact, worse under Trump than it was under Biden in his last year.

So if you take a look, for example, at payrolls growth, you can see under Biden, we averaged about 170,000 jobs a month.

And under Trump, it's dropped to something like 77,000 jobs per month.

And so we're actually going the wrong way.

And if you read any story, look at any statistic, any survey—and there was a big one in The Wall Street Journal yesterday—

Everybody is talking about how this is one of the worst job markets since the Great Recession, especially for young people.

It's a 9.2% unemployment rate among people 20 to 24 who are looking for jobs.

And I think there's a couple of factors.

You have to say that AI is a piece of this.

I don't know how big of a piece of it.

A lot of it is because of all the uncertainty under Trump, the tariffs are on, the tariffs are off.

We don't really know.

Companies are just cutting back.

They're just becoming leaner.

The economy is slower, as I'll talk about in a minute.

And so they don't need as many people.

And they've just really started to reduce their hiring in a dramatic way for these various reasons, from worries about the economy, AI and so forth.

It comes down in a large part to economic growth.

You have to have economic growth in order for people to have more income and therefore to be able to buy more stuff.

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