Lydia DePillis
@lydiadepillis.bsky.social
š¤ 1588
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NYT economics reporter. Just checking things out over here.
pinned post!
Thing that was always true but especially now: If you're someone with visibility into Trump administration economic policy changes and want to tell a reporter without jeopardizing your job, my Signal number is 202-913-3717.
about 1 year ago
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Today from me, a deeper look at the only industry that's been creating any jobs, and what it means for the people and the communities adjacent to it:
www.nytimes.com/2026/03/06/b...
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Health Care Has Become the Lifeblood of the Labor Market
https://www.nytimes.com/2026/03/06/business/economy/health-care-hiring-labor-market.html
4 days ago
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What does the war-without-end in Iran mean for the U.S. economy? Honestly who knows yet, but here's how things could go:
www.nytimes.com/2026/03/05/b...
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How War in the Persian Gulf Could Spill Into the U.S. Economy
https://www.nytimes.com/2026/03/05/business/economy/iran-oil-economy-consumers.html
5 days ago
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A little explainer from me today on the relationship between climate change and inflation:
www.nytimes.com/2026/02/23/c...
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Is Climate Change Making Inflation Worse?
https://www.nytimes.com/2026/02/23/climate/climate-change-prices-inflation.html
15 days ago
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Also from me today: Like the old ones, the new versions of prediction markets are looking pretty accurate relative to professional forecasters. Just with a lot more money involved.
www.nytimes.com/2026/02/11/b...
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Thousands of Amateur Gamblers Are Beating Wall Street Ph.D.s
https://www.nytimes.com/2026/02/11/business/economy/forecasts-prediction-markets-economy.html
27 days ago
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Two months of heavy ICE presence in the Twin Cities are crushing the metro area's retail, food, and entertainment industries -- like Covid, business owners told me, except without the federal aid.
www.nytimes.com/2026/02/02/b...
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āItās Been Brutalā: Twin Cities Economy Suffers Under ICE Crackdown
https://www.nytimes.com/2026/02/02/business/economy/minnesota-ice-economy-damage.html
about 1 month ago
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The great
@anaswanson.bsky.social
and I took a look back on what a year of Trump policy hath wrought for manufacturing. Short version: No big resurgence, but some interesting stuff going on under the surface.
www.nytimes.com/2026/01/29/b...
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Trumpās Trade Policies Sort Manufacturers Into Winners and Losers
https://www.nytimes.com/2026/01/29/business/economy/manufacturing-factories-tariffs.html
about 1 month ago
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Today from me: Bill Pulte has made a lot of headlines for going after Trump's opponents and proposing far-fetched housing affordability ideas. But the agency he runs, FHFA, has taken steps that make it harder for low-income people to buy homes.
www.nytimes.com/2026/01/14/b...
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As Trump Pushes Housing Affordability, His Mortgage Chief Undermines It
https://www.nytimes.com/2026/01/14/business/economy/housing-pulte-fannie-freddie.html
about 2 months ago
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Early last year, a study came out in Nature that forecasted climate change would cause truly shocking economic damages at the end of the century if left unabated. Today, the journal retracted it. I explain why and what it means:
www.nytimes.com/2025/12/03/b...
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Top Journal Retracts Study Predicting Catastrophic Climate Toll
https://www.nytimes.com/2025/12/03/business/economy/study-climate-damage-retracted.html
3 months ago
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Did some videosplaining of the jobs situation that we learned about yesterday:
www.nytimes.com/video/busine...
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Video: What the Jobs Report Tells Us About the Economy
What does the September jobs report, delayed by six weeks because of the government shutdown, say about the economy? Lydia DePillis, our economics reporter, describes how the report, which was better ...
https://www.nytimes.com/video/business/economy/100000010534118/what-the-jobs-report-tells-us-about-the-economy.html
4 months ago
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Our final pass on today's jobs report, the first since early September and the last until mid-December. In a twist, job growth is healthy but unemployment is rising:
www.nytimes.com/live/2025/bu...
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Hiring Increased in September, but So Did the Unemployment Rate
https://www.nytimes.com/live/2025/business/jobs-report-economy
4 months ago
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Since the pandemic, private equity firms have been aggressively rolling up home remodeling and roofing companies. A couple of weeks ago, one of the largest platforms abruptly collapsed. I found out what happened, and explain what it means:
www.nytimes.com/2025/11/13/b...
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How Private Equityās Vision for a Roofing Conglomerate Went Bust
https://www.nytimes.com/2025/11/13/business/economy/private-equity-roofers-contractors-blackrock.html
4 months ago
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Today from me: Come for the cat picture, stay for the exploration of how specialty grocery stores serving immigrant diasporas are seeing the most concentrated impact from super-high tariffs on places like Myanmar and Bangladesh.
www.nytimes.com/2025/11/11/b...
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Where the Taste of Home Comes With a Tariff Charge
https://www.nytimes.com/2025/11/11/business/economy/trump-tariffs-immigrants-grocery-stores.html
4 months ago
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For an effective tariff rate that's now at about 9%, pass through to consumer prices has been somewhat muted. But if you listen to earnings calls, that's a mirage: Businesses are saying they'll have to keep raising prices to make up for the new costs.
www.nytimes.com/2025/10/24/b...
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Companies Have Shielded Buyers From Tariffs. But Not for Long.
https://www.nytimes.com/2025/10/24/business/economy/companies-have-shielded-buyers-from-tariffs-but-not-for-long.html
5 months ago
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Usually government shutdowns just displace economic activity. This one could be different: It's broader than some we've seen in the past, it could be longer, and it's hitting at the worst time of year for many farms and small businesses. From me today:
www.nytimes.com/2025/10/21/b...
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Shutdown With No Clear End Poses New Economic Threat
https://www.nytimes.com/2025/10/21/business/economy/government-shutdown-economic-effects.html
5 months ago
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reposted by
Lydia DePillis
Justin Elliott
5 months ago
Here is our full story that Vance is dismissing, with primary source documents showing Trump cabinet members with multiple primary-residence mortgages
www.propublica.org/article/trum...
www.documentcloud.org/documents/26...
add a skeleton here at some point
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Today from me: The unemployment rate for Black workers has leapt upward in recent months, while staying level for other demographic groups. There are some pretty strong indications of what's going on.
www.nytimes.com/2025/10/12/b...
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Black Unemployment Is Surging Again. This Time Is Different.
https://www.nytimes.com/2025/10/12/business/economy/black-unemployment-federal-layoffs-diversity-initiatives.html
5 months ago
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Today from me: Everybody knew H-1B visas had problems. There were lots of ideas out there for how to fix it, and maximize the program's economic impact. A $100,000 fee wasn't one of them.
www.nytimes.com/2025/09/29/b...
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High-Skilled Visas Have Problems. Trumpās $100,000 Fee Wonāt Fix Them.
https://www.nytimes.com/2025/09/29/business/economy/h1b-visas-problems.html
5 months ago
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The equation of A.I. usage with "progress" seems like a big embedded assumption here
add a skeleton here at some point
6 months ago
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Today with
@haleaziz.bsky.social
: Most of the Korean workers detained during an ICE raid on a Ga. battery plant last week were on short-term businesses visas. In at least one case, ICE acknowledged a worker hadn't violated his visa, and forced him to deport anyway.
www.nytimes.com/2025/09/12/b...
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Georgia ICE Raid Netted Workers With Short-Term Business Visas
https://www.nytimes.com/2025/09/12/business/economy/hyundai-raid-worker-visas.html
6 months ago
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In the annual poverty & income numbers for 2024, the numbers appeared calm on the surface but reveal some interesting divergences and convergences underneath:
www.nytimes.com/2025/09/09/b...
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The Poverty Rate Was Stable Last Year, as Household Income Grew Slightly
https://www.nytimes.com/2025/09/09/business/economy/us-poverty-rate-2024.html
6 months ago
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Pitched in on our coverage of the giant ICE raid on an EV battery plant in Georgia, where the Trump administration's immigration enforcement agenda is coming into conflict with its U.S. manufacturing ambitions.
www.nytimes.com/2025/09/06/u...
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Immigration Raid Exposes Tensions From Seoul to Washington to Rural Georgia
https://www.nytimes.com/2025/09/06/us/immigration-raid-georgia.html
6 months ago
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Here's our final cut on this morning's sputtering jobs report, which shows employment not even growing fast enough to soak up the shrinking number of people entering the labor force:
www.nytimes.com/2025/09/05/b...
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Labor Market Stalled This Summer, With August Data Adding to Slowdown
https://www.nytimes.com/2025/09/05/business/jobs-labor-slowdown.html
6 months ago
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Happy jobs day. As a special treat, I also have a story from Miami about the strange equilibrium we're in: As the Trump administration gradually starts reversing the flow of immigration, the unemployment rate has remained steady even as job growth slows.
www.nytimes.com/2025/09/05/b...
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Mounting Deportations Meet Slow Hiring in a āCurious Kind of Balanceā
https://www.nytimes.com/2025/09/05/business/economy/jobs-immigration-deportations-hiring.html
6 months ago
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From me today: Squinting at GDP numbers, it's become clear that A.I. is propping up the economy -- not through productivity growth, but simply the sheer amount of money going into physical infrastructure needed to support all the computing power it gobbles up.
www.nytimes.com/2025/08/27/b...
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The A.I. Spending Frenzy Is Propping Up the Real Economy, Too
https://www.nytimes.com/2025/08/27/business/economy/ai-investment-economic-growth.html
6 months ago
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Joining
@thebrianlehrershow.bsky.social
shortly to talk trade and economy and stuff. Hop on that
@wnyc.org
channel
7 months ago
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Labor market and inflation data have taken a turn for the worse over the past few weeks. But this economy has taken a bunch of hits in recent years and kept on ticking, so economists aren't doomcasting yet. Here's my effort to put it all together:
www.nytimes.com/2025/08/19/b...
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Economic Data Has Taken a Dark Turn. That Doesnāt Mean a Crash Is Near.
https://www.nytimes.com/2025/08/19/business/economy/us-economic-trends-unemployment-inflation.html
7 months ago
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One more from my stint in South Korea: At last count, some 7 million people studied abroad. As Trump pushes away international students, it appears that fewer of them will come to American schools. But Southeast Asia is aggressively taking up the slack.
www.nytimes.com/2025/08/14/b...
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As Trump Pushes International Students Away, Asian Schools Scoop Them Up
https://www.nytimes.com/2025/08/14/business/us-international-students-trump.html
7 months ago
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With
@bencasselman.bsky.social
and Alan Rappeport, a bit more on President Trump's pick to lead the BLS, Dr. E.J. Antoni III. The nomination has elicited strong concerns about the integrity of data that policymakers, investors, and journalists all depend on.
www.nytimes.com/2025/08/12/b...
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Trumpās Pick to Lead Labor Data Agency Adds to Fears of Political Interference
https://www.nytimes.com/2025/08/12/business/trump-bls-ej-antoni.html
7 months ago
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I dug into the transshipment provision of the big reciprocal tariffs now in effect. Trade lawyers suspected that something bigger was in the works: A new plan for charging higher rates on all third-country parts & materials. Turns out they were right --
www.nytimes.com/2025/08/08/b...
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New Tariff on āTransshippedā Goods Mystifies Importers
https://www.nytimes.com/2025/08/08/business/economy/trump-tariffs-transshipment.html
7 months ago
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What's the deal with all these energy purchase commitments in Trump's trade deals? Why the U.S. is overselling and our trade partners are overbuying, with the actual expert
@rfelliott.bsky.social
:
www.nytimes.com/2025/07/31/b...
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Countries Promise Trump to Buy U.S. Gas, and Leave the Details for Later
https://www.nytimes.com/2025/07/31/business/economy/trump-trade-deals-lng.html
7 months ago
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South Korea tried hard for a tariff rate lower than its chief rivals, Japan and the E.U. It failed, despite hundreds of billions of dollars in commitments for new energy purchases and investments. Details remain hazy on what market access it gave up.
www.nytimes.com/2025/07/30/b...
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South Korea Reaches Trade Deal With Trump
https://www.nytimes.com/2025/07/30/business/economy/trump-tariffs-south-korea.html
7 months ago
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I detoured from my š°š· detail to check out a š situation in š³šµ: E.V.s are taking over the auto market. It shows what can happen when a country pulls out all the stops to leverage its energy assets and fight pollution. With a little help from šØš³.
www.nytimes.com/2025/07/28/b...
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The Country Where 76% of Cars Sold Are Electric
https://www.nytimes.com/2025/07/28/business/nepal-electric-vehicles-china.html
7 months ago
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From me today: Countries threatened by Trump's tariff letters are still trying to talk him down. But over the medium to longer term, they're looking for ways to deal less with the U.S. altogether.
www.nytimes.com/2025/07/13/b...
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Under Attack by Trumpās Tariffs, Asian Countries Seek Out Better Friends
https://www.nytimes.com/2025/07/13/business/economy/trump-tariffs-trade-deals.html
8 months ago
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Many of the 14 nations that received tariff letters from President Trump yesterday had tried for months to find something that would satisfy the White House. Ultimately, none of it worked. And now it begins again. Our story from across Asia:
www.nytimes.com/2025/07/08/b...
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Trumpās New Trade Threats Set Off Global Scramble to Avoid Tariffs
https://www.nytimes.com/2025/07/08/business/economy/trump-tariffs-talks.html
8 months ago
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Meanwhile! I'm in Seoul for the next month, sitting in for the eminent
@daiwaka.bsky.social
. Here's a story about the South Korean stock market, which is blowing everybody's socks off right now:
www.nytimes.com/2025/07/03/b...
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Why This Countryās Stock Market Is Up 30% This Year
https://www.nytimes.com/2025/07/03/business/stocks-south-korea-kospi.html
8 months ago
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For the few years I've been covering jobs reports, and one sector typically rises above the rest, quietly hiring by the thousands: Health care. How taking care of humans became the biggest employer in America, and what it means for the rest of us:
www.nytimes.com/interactive/...
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How Health Care Remade the U.S. Economy
Medicine is now the nationās largest employer, but its growth may be slowing.
https://www.nytimes.com/interactive/2025/07/03/business/economy/healthcare-jobs.html
8 months ago
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Also today, I take a look at the melding of labor unions and immigrant organizing that made Los Angeles the place where protests against Trump's deportation agenda were almost certain to take off first.
www.nytimes.com/2025/06/11/b...
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How Immigrants and Labor, Long Joined in L.A., Set the Stage for Protest
Unions have backed immigrant rights in California and have been on the forefront of resisting the Trump administrationās deportations.
https://www.nytimes.com/2025/06/11/business/economy/la-protests-immigrants-unions.html
9 months ago
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Tickled to team up today with
@christinezhang.bsky.social
for this exploration of how tariff revenue is shaping up and whether it could really fill the fiscal hole the Big GOP Spending/Tax/Etc. Bill would create:
www.nytimes.com/2025/06/11/b...
(Spoiler: Probably not. Among other problems.)
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The Houseās Policy Bill Would Lose Money. Could Trumpās Tariffs Replace It?
The short answer is probably not, according to multiple forecasters.
https://www.nytimes.com/2025/06/11/business/trump-tariffs-tax-bill.html
9 months ago
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One of DOGE's casualties was most of the small team that cares for the nation's sprawling art collection. Now, a Trump friend wants to loan out the works to museums and governments around the world. Me today with the great Robin Pogrebin and Graham Bowley:
www.nytimes.com/2025/06/08/a...
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Trump Cuts Leave Few Caretakers for a Massive Federal Art Collection
https://www.nytimes.com/2025/06/08/arts/trump-cuts-leave-few-caretakers-for-a-massive-federal-art-collection.html?unlocked_article_code=1.NU8.OVra.1uXe-vGMVe-O&smid=url-share
9 months ago
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Reupping for the morning crowd:
add a skeleton here at some point
9 months ago
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Today from me and
@londonoe.bsky.social
: The White House is stepping up workplace immigration enforcement, and there's some stuff you should understand.
www.nytimes.com/2025/06/07/u...
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Trump Targets Workplaces as Immigration Crackdown Widens
https://www.nytimes.com/2025/06/07/us/trump-targets-workplaces-as-immigration-crackdown-widens.html
9 months ago
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A pleasure to work with Eileen Sullivan on this story about the widening impact of federal job cuts, which have cascaded into the private sector as contracts are yanked. Entire fields are contracting dramatically, leaving many with nowhere to go.
www.nytimes.com/2025/06/06/u...
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More Federal Workers Are Flooding the Job Market, With Worsening Prospects
https://www.nytimes.com/2025/06/06/us/politics/federal-workers-job-market.html
9 months ago
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Today with Madeleine Ngo: The GOP tax bill, and other Trump administration actions, make a show of targeting illegal immigrants. But mostly what they do is cut *legally admitted* immigrants off federal benefits, as well as their *U.S. citizen* family members.
www.nytimes.com/2025/05/27/u...
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Republican Crackdown on Aid to Immigrants Would Hit U.S. Citizens
https://www.nytimes.com/2025/05/27/us/politics/immigrants-federal-aid-us-citizens.html
10 months ago
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Incredible work from Upshot worthies
add a skeleton here at some point
10 months ago
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Today from me: Under Kelly Loeffler, the Small Business Administration is cutting staff, tightening lending standards, terminating programs for women and veterans, and barring loan applications from companies that have even one drop of non-American investment.
www.nytimes.com/2025/05/23/b...
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Under Trump, a Mainstay for Small Businesses Clamps Down
https://www.nytimes.com/2025/05/23/business/economy/trump-small-business-administration.html
10 months ago
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Today from me: President Trump is doing everything he can to raise carbon emissions. But his economic policy may end up curtailing them, at least temporarily, for reasons that no climate economist would celebrate.
www.nytimes.com/2025/04/29/b...
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How Trump May Unintentionally Cut Carbon Emissions
Despite his administrationās lack of concern about climate change, a recession would give the atmosphere a break. At least in the short term.
https://www.nytimes.com/2025/04/29/business/economy/how-trump-may-unintentionally-cut-carbon-emissions.html
10 months ago
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Great job alert: Being my editor! Awesome super-nerds only please.
job-boards.greenhouse.io/thenewyorkti...
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Economy Editor
New York, NY
https://job-boards.greenhouse.io/thenewyorktimes/jobs/4556631005
11 months ago
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friends don't let friends cite the Atlanta Fed GDP forecasting model when confronting the president with how his acts of economic self-sabotage are likely to affect growth:
add a skeleton here at some point
11 months ago
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reposted by
Lydia DePillis
Stefanos Chen
11 months ago
Quite a day (and late night). It started with an accidental memo that tore up the Trump adminās case against congestion pricing. By morning, the DOT was accusing its own lawyers of sabotage, and by afternoon, those lawyers were out. The case is just warming up
www.nytimes.com/2025/04/24/n...
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U.S. Sidelines Lawyers Who Exposed Flaws in Anti-Congestion Pricing Case (Gift Article)
The U.S. Department of Transportation chafed at the release of a confidential memo mulling its strategy and raised the possibility that the move aimed to sabotage its case.
https://www.nytimes.com/2025/04/24/nyregion/nyc-congestion-pricing-duffy-lawyers.html?unlocked_article_code=1.CE8.TsT2.4wD8orYb6LjN&smid=url-share
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Astonished as always by reporting from Keith Bradsher and others on the extent of automation in Chinese factories. They're just light years ahead.
www.nytimes.com/2025/04/23/b...
11 months ago
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