Contrary to Trump’s claims, the economy was strong under the Biden administration, marked by low unemployment, declining inflation, and rising wages. However, Trump’s policies, including tariffs, immigration restrictions, and research cuts, fueled inflation and labor shortages. Planned cuts to Medicaid, food assistance, and increased ACA premiums are set to strain public services, compounding the economic difficulties. Therefore, the current economic struggles can be attributed to Trump’s actions rather than the state of the economy he inherited.
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Donald Trump celebrated the elimination of federal jobs in a recent Truth Social post, sharing a screenshot from the White House’s Rapid Response account that noted the lowest level of government job positions since 2014, with 271,000 roles abolished. This occurred after Trump’s election in 2024, during which he appointed Elon Musk to co-lead the Department of Government Efficiency (DOGE), a group purposed with making major cuts to the government. Though Musk left the DOGE in May, and the OPM Director later stated the organization no longer exists, government workers continue to lose jobs. Despite these actions, the unemployment rate in November was 4.6%, and Trump’s approval rating among Americans is only at 39%.
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US jobless rate for Blacks and teens surges in November, and that’s a headline that really gets you thinking, doesn’t it? It’s like a signal flashing a warning: things might not be as rosy as they seem, particularly for those on the margins. When you see unemployment climbing for these two groups, it often feels like a harbinger of tougher times ahead, a kind of canary in the coal mine for the broader economy.
I’ve been hearing echoes of this in different corners, and it paints a pretty concerning picture. AI is changing the job landscape, and it seems like entry to mid-level office jobs are already feeling the heat.… Continue reading
White House Dismisses Rise in Unemployment – That’s the crux of it, isn’t it? The news breaks, the unemployment numbers tick upwards, and the response from the administration is… well, let’s just say it’s not exactly a cause for concern. It’s a dismissal, a wave of the hand, a suggestion that everything is just peachy. The sentiment seems to be, “Don’t worry, be happy,” while the reality on the ground feels a little more bleak. The whole situation feels very surreal. There’s a dissonance between what’s being said and what’s being experienced, a gap that’s widening daily.
The official line seems to be that the rising unemployment rate is actually a good thing, that more people are *seeking* jobs.… Continue reading
The US labor market experienced unexpected growth in November, adding 64,000 jobs, exceeding economists’ expectations, though the unemployment rate climbed to 4.6%. Prior jobs growth figures were revised downward, and the government shutdown caused delays and concerns about data accuracy. Federal Reserve Chair Jerome Powell expressed skepticism about the data due to the shutdown’s impact, as well as the effects of the Trump administration’s immigration policies. Furthermore, the report came amidst significant changes to the Bureau of Labor Statistics including a recent firing of the BLS commissioner and a drop in staff members.
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Job cuts in the U.S. have reached a five-year high, with over a million Americans losing their jobs this year, the highest since 2020. November saw 71,321 job cuts, a 24% increase from the previous year, marking the highest for the month since 2022. Experts attribute these cuts to factors such as slowing consumer spending, the implementation of AI and automation, and companies correcting over-hiring practices following the pandemic. As financial uncertainty grows, the importance of financial preparedness and adaptability in the workforce is emphasized.
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October saw U.S. job openings remaining relatively stagnant at 7.7 million, while layoffs surged to nearly 1.9 million, the highest since January 2023, according to the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS). The number of people quitting their jobs also decreased, suggesting businesses might resort to layoffs to control labor costs. These figures reflect a cooling job market influenced by factors such as high interest rates and trade policies. Due to the government shutdown, the October report was delayed, and the unemployment rate for October will be released alongside the November jobs report, with forecasts predicting a rise in the unemployment rate.
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Americans With Four-Year Degrees Now Comprise a Record 25% of Unemployed Workers is a stark statistic that really makes you stop and think, doesn’t it? It’s a headline that grabs your attention, immediately raising questions about the current state of the job market and the value of higher education. So, let’s unpack this and try to make some sense of it all.
The initial gut reaction is a mix of concern and bewilderment. If a quarter of unemployed workers hold a bachelor’s degree, what’s going on? It’s easy to assume that a four-year degree is the golden ticket to a stable career, but this data throws a wrench in that expectation.… Continue reading
In an interview with Fox News, President Donald Trump criticized the network’s polling data on the economy, specifically the recent survey indicating that 52% of voters believe the economy has worsened under his administration. Trump suggested that Fox News should replace its pollster. These comments came amidst concerning economic reports, including a rise in unemployment to 4.3% and a slowdown in job growth. The survey, conducted by Beacon Research and Shaw & Company Research, revealed that the economy remains the top concern for voters, underscoring the significance of these polling results.
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The August jobs report revealed a significant economic downturn, with only 22,000 jobs added and the unemployment rate rising to 4.3%, the highest since 2021. These figures, released after President Trump fired the Bureau of Statistics Commissioner, further indicated that the jobs market is struggling. While Trump’s administration continues to push a narrative of economic prosperity, the numbers undercut those claims and could prompt the Federal Reserve to lower interest rates. The report has also caused the number of Americans who have been out of work for more than six months to reach 1.9 million.
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John Q. Hosedrinker 
Matt Underwood