It was just 11 months ago that Virginia Governor Glenn Youngkin, speaking at Trump’s inauguration, promised a new “Golden Age” for America. How has that prediction done so far? I mean, if you’re super-rich, an oil company, a major corporation that’s friendly with Trump, etc., you’ve done great! Other than that…nah. Case in point? Check out the latest employment statistics from BLS, out this morning. A few highlights (actually, they’re more like lowlights) include:
- “There are nearly 1 million more unemployed people now than in January.”
- “271,000 federal workers left or were let go since January. “
- “The Bureau of Labor Statistics estimated -105,000 jobs were lost in October.”
- “… the unemployment rate jumped to 4.6% –>the highest since September 2021.”
- “+55k for the year: lowest annual level outside of recessions”
- “The US would have LOST JOBS in the past 6 months if it weren’t for healthcare.”
- “The US economy is in a hiring recession. Almost no jobs have been added since April. Wage gains are slowing.”
- “The number of manufacturing jobs in the US continues to slide. November was the 7th straight monthly decline.”
- “…the Black unemployment rate is 8.3%”
- “All told, the headline numbers suggest VIRTUALLY NO EMPLOYMENT GROWTH since April (‘Liberation day’).”
- “Are we in a recession? Perhaps. Maybe. Hard to tell.”
- “The unemployment rate, at 4.6 percent, is now at its highest level since September, 2021, as the economy was still emerging from the pandemic. It’s up from 4 percent in January.”
- “The US is losing blue-collar jobs for the first time since the pandemic—year-on-year job losses have hit 65k as manufacturing, transportation, & mining industries lose jobs at a rapid pace while growth in construction has nearly zeroed out”
In sum, NO THIS IS NOT THE “GOLDEN AGE” Glenn Youngkin promised. Quite the contrary. So if you voted for Trump because, for some crazy reason, you thought he’d be better than Kamala Harris on the economy, you might really want to examine your life choices…lol.
Rep. Don Beyer (D-VA08): “The year before Trump took office, the US averaged +168,000 jobs per month. It added just 119,000 jobs TOTAL in 7 months since Trump’s tariffs began. The unemployment rate just hit its highest level in 4+ years. Even Trump’s Chief of Staff admits his tariffs hurt our economy.”
