By John Q. Hosedrinker 
The August jobs report revealed the weakest labor-market gain in five years, with the unemployment rate rising and long-term unemployment reaching its highest level in nearly a decade. A particularly concerning trend is the rise in Black unemployment, which has disproportionately impacted Black Americans, with unemployment reaching its worst levels since 2021. This downturn is linked to government firings, DEI rollbacks, and specific sector declines, especially in trade, transportation, and manufacturing. Historically, the economic struggles of Black workers often foreshadow broader economic issues, making the current situation a cause for alarm and potential further negative impacts on the economy.
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Trump’s Economy Is Finally Here—and It’s Even Worse Than You Imagined
The early warning signs are in, and the reality is stark: Trump’s economic policies are producing results, and they are not pretty. The most recent jobs report, showing the weakest labor market gain in five years, should be ringing alarm bells for everyone. This sluggish growth is just the opening act. We’re looking at a potentially devastating sequel.
The unemployment rate rising, reaching its highest level since 2021, paints a grim picture. A significant proportion of those unemployed have been searching for work for an extended period, a clear indication of the growing difficulty in finding opportunities. Add to this the looming cuts to social safety nets in the coming years, the economic drag of tariffs, the re-initiation of student loan wage garnishments, and the continuous erosion of the dollar’s value due to inflation, and the situation becomes even more concerning. Job losses and increasing global alienation will further exacerbate the problem.
One of the most immediate and visible impacts is at the gas pump. Prices have soared, and this is just the beginning. The cost of living is on the rise, and it’s hitting everyone’s wallets. Supporting policies that lead to economic hardship is counterproductive, and choosing these policies based on single issues is not helpful.
The data clearly reveals the damage. The most concerning aspect is the impact on Black Americans, whose unemployment rate has risen sharply, surpassing even the already high national average. Black workers, who saw considerable job gains in 2023, are now experiencing a disproportionate burden, and this trend continues. This highlights the fragility of the economy and the inequality it breeds. The rollbacks of diversity, equity, and inclusion initiatives are also likely contributing to this, with layoffs and decreased opportunities hitting Black workers particularly hard, both in government and the private sector.
The slowdown in trade and transportation is contributing to the decline. These sectors, which often employ many Black men, have been negatively affected by trade policies, with tariffs on one end and lack of federal transit funding on the other. This is creating an environment where unemployment and lack of opportunities fuel a vicious cycle, where Black-owned businesses also suffer.
The fact is that the economic argument was always a lie. The potential for a grounded debate around some shared economic reality becomes impossible when we’re making up numbers. The evidence is mounting that the plan is not working as promised, with costs of basic necessities on the rise, and families struggling to make ends meet.
The market might be strong, but it’s important to ask who the success is for. It’s becoming clear that workers and everyday Americans are bearing the brunt of the economic downturn. The theory of trickle-down economics, which has failed under previous administrations, is proving to be a failure. Everyone with a working brain knew it was going to be this bad, and many people warned about the coming challenges.
The potential for economic turmoil is immense. While the Dow and S&P 500 might show a seemingly positive picture, this doesn’t reflect the day-to-day realities for most people. It’s not a reflection of the economic distress and struggles that many families face. Be concerned with what they’re reporting.
There is damage, and it’s important to look at who is benefiting. It’s not about being a pessimist or a naysayer; it’s about recognizing the trends, the consequences of policy decisions, and how they affect the lives of real people. The current situation demands careful consideration and a critical look at what’s happening now, and what’s coming.