Friday Mid-Day Update： April 4, 2025
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Summary
A strong March jobs report from the U.S. Canada's economy loses 33,000 jobs in March, the biggest drop in jobs for Canada since 2022. The Dow and S&P 500 hit new records and hit new all-time highs on the back-to-back days of bad news from the Davos Davos summit.
Transcript
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Hello everybody, I'm John Fossey with this Great America Show midday update for Friday, April 4th.
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Happy Friday, folks. I hope you are all ready for the weekend, as am I.
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Job expectation numbers are out. 228,000 added for the month of March,
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as the Trump economy defies its critics, folks.
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Employers in the United States added those 228,000 jobs to their payrolls for the month of March,
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according to the Department of Labor Statistics, and the employment rate inched up to 4.2%.
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Now, the big picture in this, economists had been expecting just 140,000 jobs added in March.
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The climb in the unemployment rate was expected.
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The private sector hiring was much stronger than expected.
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Economists had expected a forecast of 115,000 jobs.
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Now, the workforce participation rate climbed from 62% to 63%.
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The average work week lengthened, a sign of increased demand for labor.
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Average hourly earnings rose 0.3% compared to February, and 3.8% increased compared to a year ago.
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Now, folks, the strong job numbers is the latest economic data suggesting that the economy reigns on solid footing,
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despite surveys showing gloomy consumer sentiment, rising policy uncertainty,
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and businesses wary of future economic conditions, folks.
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The tariff situation, the markets, oh, by the way, oil prices have hit a new low since 2021,
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so we can expect gas prices to start falling pretty drastically, pretty rapidly over the next few days and the next few weeks,
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As I was saying, these tariffs that are going into effect and the retaliatory tariffs that have taken effect already,
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that President Trump put on these nations who, quite frankly, take advantage of America.
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Those are going into effect, hitting the stock market a tiny bit.
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This market correction, folks, this onshoring of jobs back to America,
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And I think that's the thing that us as the American people have to understand.
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Yes, we all do have IRAs and pension plans and all that good stuff that we're going to be needing when we retire
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It's not something that we can look at right now and say,
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well, in 20, 30 years from now, it's still going to be down.
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This correction is about bringing jobs back to America.
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So that's what us, I think, as American people have to sit back and realize.
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It's about the blue-collar workers who have lost their jobs to outsourcing,
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who have lost their jobs to cheap labor over in China.
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Canada, one of the latest countries to be upset with the retaliatory tariffs.
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But as we've told you the last few days here on The Great America Show,
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they're guiltier than anybody with 200% tariffs on some goods into America.
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Of course, the United States exceeding expectations for their March numbers,
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The big picture is Canada thinks they're going to continue to get over on America,
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but those days are long gone, at least for the next four years,
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And a big shakeup happening at the economic, the World Economic Forum.
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says he's going to be departing and starting the process of stepping down
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as chairman of its board of trustees, the Geneva-based institution confirming this week.
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which convenes in its annual gathering of world elites at the Swiss resort of Davos,
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must recover its, quote, sense of mission after a period of turmoil.
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The Financial Times first reported Schwab's departure,
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confirming by two people with knowledge of the situation.
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quote, I am deeply convinced that in today's special context,
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the forum is more important and relevant than ever before.
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thanks to the successful financial management since its beginning,
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which is essentially now, after the turmoil of the last few months,
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The 87-year-old signaled to the board of trustees
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that he would resign as a non-executive chair of the board of trustees,
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and it came as a surprise to the other members of the board,
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given he only transitioned to the job in the past few months,
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and had promised many to keep on working as mastering global control issues.
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Folks, I think Schwab saw the writing on the wall.
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but it's a waste of money, because nobody's subscribing to it.
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You look over in France right now, and you look what they're doing to Marie Le Pen.
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Well, we really got it from the banana republics who do it,
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but we were the first world power to sit here on the economic and the world stage
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and say, we're going to jail our political opponent.
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So now, these other nations, Europe is loving it,
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Their Marxist-run dictatorship cannot stand conservatives.
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So they're absolutely loving it, but it's the same thing.
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And this is all their plan for world economic and social demand and power.
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The same thing that Klaus Schwab has been preaching for years, folks.
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So we're glad to see Klaus Schwab stepping down.
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President Trump has fired the NSA U.S. Cyber Command
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and NSA's top boss, Timothy Haig, and his deputy director.
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President Trump firing Air Force General Timothy Haig,
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the director of the NSA, as I said, and the head of cyber, U.S. Cyber Command.
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General Haig, a Biden holdover who assumed leadership of both agencies in 2024,
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has been relieved of his duties effective immediately.
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General Haig was informed by the White House that his tenure had concluded
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his civilian deputy at the NSA, Wendy Noble, was also relieved of her duties.
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Noble was reassigned within the Pentagon to the office of the Undersecretary of Defense for Intelligence.
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Now, why would these folks still be there in the first place?
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We had the whole signal gate where Mike Waltz was the troop text and this and that.
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Yet we still, folks, we still have Biden holdovers.
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Why do we have Biden holdovers still months after the administration had taken over?
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The administration had months to prepare of who was working there and who had to go.
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Because this is the same situation we're seeing from 2016, where there's people inside these
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administrations who seek to undermine democracy, who seek to undermine a president, and seek
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We should not be seeing now, months into the administration, people who hate President Trump,
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people who were appointed by Marxist Joe Biden, still at our three-letter agencies.
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We voted for an administration of change to get rid of the status quo and to get rid of
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Yet they're still sitting there at their posts with their cushiony salary and their 401ks and
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Folks, please be sure to join us today and each and every day for The Great America Show
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and The Great America Show Midday Updates, where we bring you the headlines and
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updates on everything that you need to know to get through your day and to get through
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Have a great Friday, and if you don't join us tonight, you have a great weekend, and we'll