I am really getting infuriated with this. Economies are not binary. They are not simply “good” or “bad.”
Competent viewers of society should understand that in “this economy”, 2025, probably most of the people in the USA, there has been a big difference in recent times between the unemployment rate and the inflation rate. Yet I see advice to not quit your job in “this economy” because people have developed the (permanent?) idea that the economy is “bad” therefore it must be tough to get a job. Whereas with the (more in the recent past now) inflation it would probably be a good idea for some people to quit their jobs and get different, higher paying jobs, so they can actually pay their bills.
Regardless, the illiteracy of this particular phrase has made it harmful and it has less than zero value. Please stop using the phrase “In this economy.”
I think it’s often just code for “we can’t pay you more / treat you better”
The same boss that will brag about how great Trump makes the economy will then turn around and say “a raise? In this economy? No, I’m afraid that’s just not possible”
It’s become a phrase that’s used even in good economies to mindlessly shut down things someone doesn’t want to do.
But with the fairly recent inflation, yes many workers got raises just to keep up. Because… yes there were other jobs out there and people would indeed walk due to lack of pay.
So I’m not sure what audience, in real life, saying you can’t afford to give raises when inflation is high would work. Especially at the lower level jobs, yes people will come and go in those jobs. They are in fact responsive to the pay rate.
I am referring to other people trying to “helpfully” caution someone against leaving a job for some other reason, like they had an affair with a co-worker, because “in this economy” new jobs are hard to find.
I just think as I said many people can’t think in anything other than binary terms.
Try these remedies:
Now is not the time.
In the wake of this President’s blablabla.
…since the height of the Cold War Dotcom Cyber Credit Default Lockdown Embargos.
I’m only 47 so maybe I haven’t been around long enough, but I’ve heard the “in this economy” phrase as far back as I can remember. It seems like going back to at least the mid '90s we’ve had an economy where people will say “in this economy” or complain about how times are tough. In other words the phrase is meaningless, because we have always been (at least as far back as I can remember) and seemingly will always be in an “in this economy” time period regardless of what the actual numbers are. Take the current complaints of inflation. People talk about it as if things were just fine prior to this current bout of inflation. And yet I sure don’t remember people back in, say '22, talking about how “inflation is low, things are great!”.
I think it’s a recognition of uncertainty. For the past five years, there’s been global uncertainty about how bad inflation would be and how bad it would affect individuals and businesses. It’s likely many businesses chose low-risk strategies to ensure protection against inflation risk. I’m not sure the risk will decrease during Trump’s resumption of the US presidency. But there could be a quick boost to the economic outlook based on the change in the presidential administration.
It’s simply a lie.
As we’ve discussed in countless threads, the US economy is actually very strong by almost all benchmarks. Very soon, the media will be using exactly the same data to claim that Trump has “turned the economy around” (because, even if he tanks the economy, that is unlikely to happen in the first few weeks, so he’ll have at least a period of FOX et al saying “Look! Unemployment is low now!” and because the net message has been about an economy in crisis, even Democrat voters might believe this represents a change).
But yes employers in particular are being disingenuous on this. On average they are sitting on increased profits – yes including correcting for inflation – and if your salary is not beating inflation then they are taking advantage.
Sorry, can’t resist bringing together two threads of righteous indignation, let me just say, “In this economy, we can talk about late stage capitalism!” I’m outta here.
I would say that economic anxiety is a permanent state. No matter how much money an individual has, they fear losing it, losing their source of income, or losing spending power. Even the legendary billionaires are motivated by these fears to continue to acquire wealth. For EVERYONE, no matter how much money they have and how much will be coming in, IT IS NEVER ENOUGH.
That being the case, people are very VERY susceptible to negative rhetoric about “the economy”. And in our current divisive political climate, using overheated hyperbole to tar ones opponents is the way. The economy is just one handy hobbyhorse to ride.
Add into this mix the rapacious business owners price gouging, engaging in shrink-flation, and keeping wages down, and it’s no wonder everyone believes the negative jawboning, regardless of the actual measurable positive economic trends.