Trump Unemployment

The long predicted shift in the labor market due to Trump’s idiotic economic policies is starting to happen, with the administration doing something really crazy such as releasing economic data.

The U.S. labor market lost 41,000 jobs over October and November, and the unemployment rate ticked up to 4.6 percent, the highest since 2021, underscoring concerns about the strength of the economy.

The October loss of more than 100,000 jobs was particularly striking, the sharpest losses since the covid pandemic-era recession. But economists expected losses in October because the data reflected tens of thousands of federal workers who deferred resignation and officially parted ways with the federal government in October. Federal government payrolls fell by 162,000 jobs in October, the agency reported. November’s gains of 64,000 jobs exceeded expectations.

Job creation from August was revised down by 22,000, showing the economy lost 26,000 jobs that month. September job gains were also revised lower by 11,000 to 108,000.

“The labor market is cooling,” said Guy Berger, director of economic research at the Burning Glass Institute, a company that conducts research on the labor market. “That’s a change from where we were during early summer when it looked like things were relatively stable. But data seems to be moving in the wrong direction again.”

4.6% is not the end of the world, but the worst unemployment since the pandemic is unlikely to make Republicans popular. Of course, most of their voters won’t care, but a few will and there’s little reason to think that the tariff nonsense is going to do anything but make this worse going forward.