Becker Business Podcast: "The Economy: The Good, the Bad, & the Ugly 9-16-25"

Host: Scott Becker
Date: September 16, 2025

Overview

In this episode, Scott Becker delivers a concise and insightful analysis of the current state of the U.S. economy, categorizing his discussion into three parts: the good, the bad, and the ugly. He explores key metrics such as retail sales, GDP growth, and the jobs market, providing both statistical and anecdotal evidence to paint a nuanced picture of economic reality in September 2025. Becker closes with practical advice for job seekers facing a turbulent landscape.

Key Discussion Points & Insights

1. The Good: Retail Sales Exceeding Expectations

Timestamps: 00:31–01:21

• Surprise boost in U.S. retail sales for August; sales increased more than forecasted.
• Three consecutive months of strong retail sales signal ongoing consumer activity.
• "Retail sales expanded and beat August forecast. People did not really see that coming, but overall the country had a better purchasing month in August than expected."
  — Scott Becker [00:36]
• Becker notes this is particularly noteworthy "given the current economic anxieties," implying consumer sentiment may be more resilient than predicted.

2. The Bad: Stagnant Economic Growth

Timestamps: 01:22–01:53

• U.S. GDP growth lags at approximately 1%.
• Slow growth persists despite significant deficit spending by the government.
• Becker labels this combination a "disaster," highlighting an expectation that government outlays should boost economic performance more than is currently observable.
• "The GDP is running at almost about a 1% rate or growth rate, a very, very slow growth rate, which particularly given the amount of deficit spending that we are doing, is a disaster."
  — Scott Becker [01:24]

3. The Ugly: Deteriorating Jobs Market

Timestamps: 01:54–03:10

• Unemployment rate climbs to around 4.3%, and recent unemployment claims hit their highest level in a long time (263,000 claims in the past week).
• Number of open jobs has dropped to 7 million—a low for a country with 330 million people.
• "The job market is getting tougher and tougher. ...we had the highest claims for unemployment last week than in a long time, 263,000."
  — Scott Becker [01:56]
• Becker shares the anecdotal reality: “We’re getting to that point again in the economy where everybody knows somebody who has lost a job and that’s always a scary place to be.” [02:31]
• Personal note: In the last month, three people close to Becker have lost jobs—a trend he predicts will worsen.

Notable Quotes & Memorable Moments

• On surprising consumer resilience:
  "Retail sales expanded and beat August forecast... literally the third straight month of solid gains reported in the retail sales market."
  — Scott Becker [00:36]

• On GDP vs. deficit spending:
  "A 1% growth rate... given the amount of deficit spending we're doing, is a disaster."
  — Scott Becker [01:24]

• On the jobs market's personal toll:
  "We’re getting to that point again in the economy where everybody knows somebody who has lost a job and that’s always a scary place to be."
  — Scott Becker [02:31]

• Advice to jobseekers:
  "My advice to people is if you have a job, keep it. While you're looking for your next job, don't leave the job."
  — Scott Becker [03:02]

Actionable Takeaway

Timestamps: 03:02–03:20

• Becker encourages listeners: stay in your current job while searching for new opportunities; don’t leave based on the hope of quickly landing another role in this tough job market.

Summary Recap

• The Good: Retail sales remain strong, defying economic headwinds.
• The Bad: Overall economic growth is sluggish, not matching the level of government spending.
• The Ugly: The jobs market is worsening, with rising unemployment and fewer positions available.

Scott Becker provides a fast, clear-eyed overview, underlining both optimism in consumer behavior and caution in employment trends. His bottom-line advice: be prudent with career moves in uncertain times.