The Journal. It's Almost 2026. How’s the Economy?
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Dec 19, 2025 
Join economics reporters Jeanne Whalen, Justin Lahart, and Rachel Wolfe from The Wall Street Journal as they dissect the turbulent U.S. economy of 2025. They explore how rising unemployment and tariffs have created confusion in global trade, while the stock market flourishes for the wealthy. The trio reveals the impact of AI on jobs, especially for young workers, detailing struggles with automated hiring. As they look ahead to 2026, they highlight critical issues like rising mortgage rates, inequality, and shifting demographics.
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No Manufacturing Renaissance Yet
- Tariffs haven't triggered broad reshoring or a manufacturing boom yet.
- Justin Lahart points out U.S. manufacturing employment has actually fallen this year.
Hiring Data May Be Overstated
- Official job numbers may overstate recent hiring by a sizable margin.
- Justin Lahart notes payrolls averaging 40,000 could be overstated by ~60,000 monthly.
Jobs Growth Is Narrow
- Healthcare and social assistance are the main areas still adding jobs.
- Justin Lahart says other sectors are stagnating or shrinking lately.