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Economic Times
41 minutes ago
- Economic Times
'Recession indicators' flood TikTok in US: Labubus, lipsticks and low-rise jeans trigger panic
AP To be in a recession, the economy has to have two consecutive quarters, or six months, of negative GDP growth The term 'recession indicator' is trending all over social media in the US. Have you ever wondered what do a Labubu toy and the US Treasury yield curve have in common? For Gen Z, everything from the popularity of Labubus to listening to emo music to lipstick sales are a possible indicator of a recession. From Lady Gaga topping the charts to fashionistas stepping out in low-rise jeans and coke bottles with names-- all these are just few hints that social media users see as a sign of recession in US. TikTok is brimming with what users are calling modern-day recession indicators. Among the most talked-about are the hemline index—the theory that skirt lengths tend to get longer as economic downturns loom—and the lipstick index, which links spikes in lipstick purchases or Google searches to the onset of past recessions. ALSO READ: Social Security in August: Recipients to receive their checks on these dates. How can you make the most of it? 'A huge recession indicator nobody is talking about, ready? The club is only getting stronger,' one TikTok post said, reports Seattle Times. 'We have an event here in Seattle at Cha Cha Lounge (where) they throw Latin night on a Wednesday and it gets packed.' 'Five things trending this summer that are actually just recession indicators,' one TikTok creator says in a video, going on to point to short nails, minimalism, people quitting fake tanning and a return to natural hair colors as signs of a recession. Some posts suggested that signs of cost-cutting or anything evoking the 2007–2009 era are indicators that the US economy may be headed for a downturn. But experts don't share the same views and assessment as actual economic indicators hold steady despite clouds of uncertainty. Economists use metrics to predict recessions, such as the unemployment rate, now at 4.1%, and weekly unemployment insurance claims. ALSO READ: Stimulus payments August 2025: These US states will receive financial benefit. Do you qualify? The US real gross domestic product increased at a 3% annual rate from April through June, an improvement after contracting 0.5% in the first quarter, according to an advance estimate from the U.S. Bureau of Economic Analysis released this week. To be in a recession, the economy has to have two consecutive quarters, or six months, of negative GDP growth, economist Mark Gertler told The Seattle Times. This means, currently the US economy is not in a recession. The last time the National Bureau of Economic Research, where Gertler works, declared a recession was because of the pandemic. It was the shortest recession in US history, lasting from February to April 2020. Before that, the Great Recession, from 2007 to 2009, was the worst economic downturn in decades, and its impact reverberated through early 2000s culture. 'It could be that Lady Gaga concerts were correlated over a certain period,' Gertler was quoted as saying by Seattle Times. 'But if there's not a fundamental economic reason for that, the correlation will likely break down over time.' The Great Recession was a 'different animal' Gertler said, triggered by a bursting of the housing market bubble. When examining actual recession predictors, the US economy is holding fairly steady. ALSO READ: Social Security eyes massive reform in US: New policy could hit 3.4 million Americans this month Tara Sinclair, chair of George Washington University's Economics Department and an economic forecasting researcher, told NBC Washington while looking for recession indicators may seem strange, some have an underlying validity.'There would be reasons to think that culturally we could come up with a theoretical argument, for example, for the lipstick index, this idea that when you feel like you can't buy a whole new outfit, but maybe you can just buy yourself a new shade of lipstick, that that might somewhat be indicative of people's sense of personal finances,' she said.'I think what's more important is tracking that people are talking about it more. And in general, if people are talking about concerns about the economy, then the next step is for them to pull back on their spending. and if they pull back on their spending, then that can create a self-created recession," she said. ALSO READ: Sydney Sweeney's American Eagle ad controversy: How the actress built a $40 million empire from endorsements Labubus are actually recession indicators? 'I mean, it could be that we all get ourselves a little Labubu and if that's all we're getting everybody for Christmas this year, that's probably a signal that we've cut back a lot on our spending by Christmas," Sinclair said. 'Unless, of course, you're getting one of those collectible ones that cost thousands of dollars.'Economists rely on several key indicators to assess the nation's economic health—one of the most significant being the unemployment rate, which currently sits at around 4.1%. That figure has remained relatively stable over the past few spending is another critical measure. A noticeable drop in purchases of nonessential items can be an early warning sign of an impending recession, according to Ana Espinola-Arredondo, an economist and professor at Washington State University.
Time of India
4 hours ago
- Time of India
No H1-B visas, just leave the country after you get a degree: Steve Bannon's explosive comment on foreign students
Steve Bannon said foreign students should be forced to leave US after they complete their studies. President Donald Trump's aide and former adviser Steve Bannon made an explosive remark on foreign students in the country and the H-1B visa programs, calling for a complete purge of international students. "I don't think you should have any foreign students in the country right now," Bannon said, adding that this is elbowing out American students. Calling the situation uncontrollable, Bannon said instead of stapling a green card to their diploma, the administration should staple an exit visa. "Boom, you are out of here. You get 30 days to hang out with classmates, you can come back for all the alumni stuff, but you are gone," Bannon said. The Trump adviser said absorbing all talent from all across the world is not going to make the world a better place. "The countries of the world won't get better if you're sucking up every piece of talent. That's how the British ran their empire. It's imperial," Bannon said. Bannon said if everyone wants to come to Harvard and they can't do that, they will come through central America and the US will remain in the same mess that it's trying to clear now. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Biggest Real Estate Discounts Ever a M3M India. Enquire Now! M3M India Book Now Undo The H-1B visa program is again much in discussion as tech companies have announced major layoffs. Tracker says around 80,000 tech jobs have been eliminated so far this year. Companies asserted that foreigners are also losing their jobs and H-1B is not to be blamed as the restructurings are mostly because of AI, American tech workers remain skeptical as the H-1B approvals are also not going down. Around 400,000 visas were approved in 2024, more than twice the number issued in 2000, with the majority of these being renewals of existing visas, rather than new applications. Most of these foreign workers are employed by large tech companies like Amazon, Microsoft, and Google, who pay to keep hold of foreign-born workers, Newsweek reported. Vice President JD Vance recently warned the tech companies and said it's unacceptable that US companies are laying off Americans and then applying to hire foreigners The July jobs report released Friday showed a deteriorating labor market in the US, with just 73,000 jobs added for the month. Revisions to earlier data were also significant, with a combined 258,000 jobs slashed from May and June's numbers.
United News of India
4 hours ago
- United News of India
US stocks suffer nosedive, job creation stagnates amid tariff rollouts
US stocks suffer nosedive, job creation stagnates amid tariff rollouts 02 Aug 2025 | 4:10 PM New Delhi, Aug 2 (UNI) The US stock market witnessed its worst earnings since May on Friday as the S&P 500, Dow Jones Industrial Average, and Nasdaq composite fell significantly. Dow reported its worst performance with a fall of about 1.23 per cent. While the S&P 500 and Nasdaq composite fell to about 1.6 per cent and 2.2 per cent, respectively. This stock bloodbath happened amid the tariff rollouts on dozens of trading partners, and a weak job creation report pushed selling pressure. see more.. PSU bank branches legally not authorised to open CBS on Aug 3: Unions 02 Aug 2025 | 3:34 PM Chennai, Aug 2 (UNI) The United Forum of Bank Unions (UFBU)-an umbrella body of bank unions- has said public sector banks are not legally authorised to open their core banking solution (CBS) on August 3, 2025 though the government has directed the bank branches to be open on that day. see more.. Kottayam-Kochi Rubber Market Rates 02 Aug 2025 | 3:09 PM Kottayam, Aug 2 (UNI) Following were the Rubber Market rates announced by the Rubber Board here today per quintal. see more.. Kottayam-Kochi Rubber Market Rates 02 Aug 2025 | 3:08 PM Kottayam, Aug 2 (UNI) Following were the Rubber Market rates announced by the Rubber Board here today per quintal. see more..
