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Hispanic men helped propel Donald Trump back to the White House

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DONALD TRUMP has claimed victory in America’s election, and may even win the popular vote, something he failed to do in 2016. Political pundits are now trawling through results to figure out how he did it. Among counties that have counted almost all of their votes, some of Kamala Harris’s most disappointing results came from Texas, in particular on the border with Mexico. In Webb County her vote share was 13 percentage points lower than Joe Biden’s in 2020. It was ten points lower in Dimmit and Starr, and nine points lower in Zapata. In each of these counties, more than five in six residents are Hispanic—a group that has historically been at the core of the Democratic coalition.

Pre-election polling suggested that Donald Trump had made substantial inroads with Hispanic voters across the country. Partial results suggest this swing has materialised, helping to push the former president over the line in battleground states. And while Hispanic voters as a whole have swung away from Democrats—along with voters of all ethnicities—his gains were particularly concentrated among Hispanic men.

Chart: The Economist

In 2016 Hillary Clinton won Hispanic voters by a margin of 38 percentage points, according to exit polls. By 2020 Joe Biden’s margin had shrunk to 33 points. This year early exit polling conducted by CNN suggests that Ms Harris’s margin of victory among Hispanic voters is just eight percentage points—a remarkable collapse if right. This is reflected in county-level analysis, which shows her winning a substantially lower share of the vote than Mr Biden in heavily Hispanic counties, especially those in Florida (see chart). There are a number of possible explanations for the shift.

One is a long-term trend of racial depolarisation. American politics has realigned along social and cultural lines, making religion and education crucial demographic variables. These characteristics divide Hispanic voters just as they do the rest of the country. Another explanation is that Hispanic voters are more likely than other groups to say the economy is their most important issue, favourable territory for Mr Trump.

These explanations can also account for the fact that Hispanic voters are not moving towards the Republican Party at one pace. CNN’s exit poll finds a dramatic widening of the gender gap among Hispanic voters. Hispanic men have swung from voting for Mr Biden by 23 percentage points in 2020 to voting for Mr Trump by ten points this year. Hispanic women, by contrast, voted for Ms Harris by 24 points. While men of all ethnicities were more likely to vote for Mr Trump, the widening gender gap among Hispanic voters may indicate divides over issues such as abortion.

There is also substantial variation within the Hispanic population based on heritage or country of origin. Mexican voters, especially those in south west Texas, swung dramatically towards Mr Trump in 2020, for example. This year early evidence suggests that counties with large Dominican and Cuban populations swung the furthest away from Democrats, while Puerto Rican and Mexican communities shifted by a smaller margin. This could be the result of the feisty and divisive election campaign—marked by episodes such as a comedian insulting Puerto Rico at one of Mr Trump’s rallies—or of structural differences such as geography, language and generation.

As votes continue to be counted in the west, we will see further data from states, such as Arizona, California, and Nevada, that have large Hispanic populations. In Arizona and Nevada—important battlegrounds in this year’s election—a shift among Hispanic voters could be the difference between Mr Trump or Ms Harris winning the state. But the result of the presidential election is not in doubt. This year has cemented Hispanic voters’ position as a crucial swing constituency. For Democrats looking to what comes next, rebuilding their Hispanic coalition will be a difficult task.

Economics

Donald Trump has many ways to hurt Elon Musk

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THERE WAS a time, not long ago, when an important skill for journalists was translating the code in which powerful people spoke about each other. Carefully prepared speeches and other public remarks would be dissected for hints about the arguments happening in private. Among Donald Trump’s many achievements is upending this system. In his administration people seem to say exactly what they think at any given moment. Wild threats are made—to end habeas corpus; to take Greenland by force—without any follow-through. Journalists must now try to guess what is real and what is for show.

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Economics

Donald Trump has many ways to hurt Elon Musk

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THERE WAS a time, not long ago, when an important skill for journalists was translating the code in which powerful people spoke about each other. Carefully prepared speeches and other public remarks would be dissected for hints about the arguments happening in private. Among Donald Trump’s many achievements is upending this system. In his administration people seem to say exactly what they think at any given moment. Wild threats are made—to end habeas corpus; to take Greenland by force—without any follow-through. Journalists must now try to guess what is real and what is for show.

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Economics

Jobs report May 2025:

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U.S. payrolls increased 139,000 in May, more than expected; unemployment at 4.2%

Hiring decreased just slightly in May even as consumers and companies braced against tariffs and a potentially slowing economy, the Bureau of Labor Statistics reported Friday.

Nonfarm payrolls rose 139,000 for the month, above the muted Dow Jones estimate for 125,000 and a bit below the downwardly revised 147,000 that the U.S. economy added in April.

The unemployment rate held steady at 4.2%. A more encompassing measure that includes discouraged workers and the underemployed also was unchanged, holding at 7.8%.

Worker pay grew more than expected, with average hourly earnings up 0.4% during the month and 3.9% from a year ago, compared with respective forecasts for 0.3% and 3.7%.

“Stronger than expected jobs growth and stable unemployment underlines the resilience of the US labor market in the face of recent shocks,” said Lindsay Rosner, head of multi-sector fixed income investing at Goldman Sachs Asset Management.

Nearly half the job growth came from health care, which added 62,000, even higher than its average gain of 44,000 over the past year. Leisure and hospitality contributed 48,000 while social assistance added 16,000.

On the downside, government lost 22,000 jobs as efforts to cull the federal workforce by President Donald Trump and the Elon Musk-led Department of Government Efficiency began to show an impact.

Stock market futures jumped higher after the release as did Treasury yields.

Though the May numbers were better than expected, there were some underlying trouble spots.

The April count was revised lower by 30,000, while March’s total came down by 65,000 to 120,000.

There also were disparities between the establishment survey, which is used to generate the headline payrolls gain, and the household survey, which is used for the unemployment rate. The latter count, generally more volatile than the establishment survey, showed a decrease of 696,000 workers. Full-time workers declined by 623,000, while part-timers rose by 33,000.

“The May jobs report still has everyone waiting for the other shoe to drop,” said Daniel Zhao, lead economist at job rating site Glassdoor. “This report shows the job market standing tall, but as economic headwinds stack up cumulatively, it’s only a matter of time before the job market starts straining against those headwinds.”

The report comes against a teetering economic background, complicated by Trump’s tariffs and an ever-changing variable of how far he will go to try to level the global playing field for American goods.

Most indicators show that the economy is still a good distance from recession. But sentiment surveys indicate high degrees of anxiety from both consumers and business leaders as they brace for the ultimate impact of how much tariffs will slow business activity and increase inflation.

For their part, Federal Reserve officials are viewing the current landscape with caution.

The central bank holds its next policy meeting in less than two weeks, with markets largely expecting the Fed to stay on hold regarding interest rates. In recent speeches, policymakers have indicated greater concern with the potential for tariff-induced inflation.

“With the Fed laser-focused on managing the risks to the inflation side of its mandate, today’s stronger than expected jobs report will do little to alter its patient approach,” said Rosner, the Goldman Sachs strategist.

Friday also marks the final day before Fed officials head into their quiet period before the meeting, when they do not issue policy remarks.

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