WSJ What’s News – Delayed U.S. Jobs Data to Fill In Labor Market Blanks

Date: December 16, 2025
Host: Luke Vargas
Featured Guests: Journal Economics Reporter Chaodang, Journal Senior Reporter John Eman, Journal Advertising Editor Suzanne Vernica

Episode Overview

This episode of "WSJ What’s News" delivers a succinct yet in-depth look at the day's key global and economic developments, with a special focus on upcoming delayed U.S. jobs data. The episode also covers the fallout from a mass shooting in Australia, a high-profile Trump lawsuit against the BBC, U.S. military actions in the Pacific, major merger news in mining, and a deep dive into the aggressive early start of Christmas advertising in response to inflation and tariffs.

Key Discussion Points & Insights

1. Bondi Beach Mass Shooting Investigations

• Developments: Authorities in Australia have linked the deadly Bondi Beach shooting (15 killed, dozens injured) to Islamic State inspiration.
  • [01:06] Luke Vargas: “Australian Prime Minister Anthony Albanese has shared new information...where 15 people were killed and dozens injured. Police said they found two homemade Islamic State flags as well as improvised explosive devices in a car registered to a 24 year old man...”
• International Focus: Attention is on a recent trip by the suspects to the Philippines, Davao (Mindanao), a region known for insurgent groups with ties to ISIS.
  • [01:41] John Eman: “There are a lot of questions about what exactly the two men would have been doing in the southern Philippines, if they received training...that’s something authorities are actively looking into.”
• International Security: Australia is working with global security partners to uncover more about the suspects.

2. Trump vs. BBC: U.S. President’s $10 Billion Defamation Lawsuit

• Context: President Trump is suing the BBC over an allegedly misleading cut in a documentary aired before the 2024 U.S. elections.
  • [02:29] Luke Vargas: “President Trump is suing the BBC for defamation...over the British broadcaster's edit of his speech before the January 6, 2021 Capitol riot...omitted his statement on supporters to march peacefully to the Capitol.”
• Claims and Response: The suit seeks $10 billion in damages; the BBC’s chairman apologized but denied the basis for a defamation case.

3. U.S. Military Action in the Eastern Pacific

• U.S. Southern Command claims to have killed eight suspected narco-terrorists in international waters.
  • [03:09] Luke Vargas: “While the administration treats suspected smuggling boats as legal military targets, critics say...strikes on them [are] illegal and a possible war crime.”
• Ongoing debate over legal and ethical grounds for these actions.

4. Delayed U.S. Jobs Data: Filling in Labor Market Blanks

• Significance: First release of two months of delayed jobs data—though missing the October unemployment rate (first time in ~80 years).
• Labor Market Trends:
  • Cooling Market: Job expansion has slowed due to rising inflation, tariff uncertainty, and restrictive immigration policies.
  • AI Impact: Executives anticipate AI taking over some work, causing white-collar layoffs.
  • [04:17] Chaodang: “Companies aren't expanding their workforces because of rising inflation and tariff uncertainty. And then you have Trump’s administration policies targeting immigrants, that’s curbing the number of job seekers.”
  • “Economists describe the environment as low fire, low hire...companies aren’t laying off workers...but also not willing to hire too many.”
• Market Implications: The dual jobs report is expected to clarify the “patchy and cooling” labor market conditions.

5. Major Business Developments

• Mining Merger: The Canadian government approved a merger of Teck Resources and Anglo American, forming “AngloTeck,” one of the world’s top copper producers.
• PayPal Bank Application: PayPal seeks to open a Utah-based Industrial Loan Company, expanding into traditional banking services and reducing reliance on third parties.
• Argentina Central Bank Moves: Steps toward letting the peso trade in broader bands and boosting currency reserves, moves welcomed by the IMF.

6. Christmas Advertising Creep: Inflation, Tariffs and the Early Start

(Deep Dive begins ~06:56)

• Aggressive Ad Spend: TV holiday ad placements up 13% over last year (even as most ad budgets shift to digital/social).
  • [07:27] Suzanne Vernica: “Advertisers have been much more aggressive this year, especially with TV advertising...13% jump this year compared to a year ago, which is astounding...Retailers alone spent about 4% more on digital ads just from November 1st to December 27th.”
• Email Deluge: A survey revealed 50 retailers generated 42 billion holiday emails in 28 days.
• Consumer Spending Trends: Inflation and tariffs made consumers bargain-hunt earlier, spreading purchases out. Despite these pressures, estimated holiday spending could hit a record $1 trillion.
  • [08:36] Suzanne Vernica: “Despite tariffs...estimates are showing that consumers are going to spend a trillion dollars this year during the holiday shopping season. And that's a record.”
• Marketing Tactics:
  • The “Christmas Creep” has moved ad starts from Black Friday to as early as August.
    • [09:49] Daniel Bok: “You're seeing holiday ads as early as August.”
• Biggest Spenders: Amazon, Walmart, and Target are the most aggressive, especially Amazon in TV ad volume.
• Consumer Response: While people claim to dislike ads, 2/3 of surveyed consumers actually enjoy holiday-themed ads, though early starts (August) and retargeting ads can annoy, especially among baby boomers (around 70% thought ads started too early this year).
  • [10:22] Suzanne Vernica: “Most people really can’t stand [ads]...but there are a few times of the year when they don’t mind. Holiday ads is another time...2/3 of respondents said they enjoyed holiday-themed ads.”

Notable Quotes & Moments

• On the Bondi Mass Shooting Investigation:
  • [01:41] John Eman: “There are a lot of questions about...the two men would have been doing in the southern Philippines, if they received training.”
• On the Jobs Market:
  • [04:17] Chaodang: “Economists generally describe the current environment as low fire, low hire...companies aren’t laying off workers in a huge way, but they’re also not willing to hire too many.”
• On Christmas Ads:
  • [07:27] Suzanne Vernica: “Retailers alone spent about 4% more on digital ads just from November 1st to December 27th...that’s up to about $5.8 billion.”
  • [08:36] Suzanne Vernica: “Consumers were actually going to start earlier looking for bargains...despite tariffs...estimates are showing that consumers are going to spend a trillion dollars this year during the holiday shopping season. And that's a record.”
  • [10:22] Suzanne Vernica: “2/3 of respondents said they enjoyed holiday themed ads, either somewhat or a lot…about 70% of baby boomers felt this year that the spots started way too early.”

Timestamps for Important Segments

• Bondi Mass Shooting / ISIS Link: 01:06–02:29
• Trump Sues BBC: 02:29–03:09
• US Strikes on Narco-Terrorists: 03:09–03:37
• US Jobs Data Preview & Labor Market Insight: 03:37–05:00
• Market & Corporate News (Mining, PayPal, Argentina): 05:00–06:26
• Christmas Advertising Deep Dive with Suzanne Vernica: 06:56–11:46

Summary

This “What’s News” episode weaves together breaking global news, critical economic indicators, and consumer trends in holiday advertising—all shaped by the interplay of politics, global events, and economic policy. The delayed jobs report stands out as a focal point for understanding U.S. labor market uncertainty. Meanwhile, the accelerated holiday advertising blitz and record consumer spending highlight how inflation and tariffs are reshaping both retailer and consumer behaviors as 2025 draws to a close.