This morning's new jobs report shows that the Trump Jobs Crisis is ALREADY far worse than previously reported.
By May, "The New Golden Age" Trump promised us in January had already turned into a nightmare for American workers as Trump's tariffs traumatized small businesses, while Trump's embrace of AI accelerationism encouraged the country's largest employers to implement hiring freezes and/or lay off employees by the thousands.
The U.S. Bureau of Labor Statistics reported that job growth on May was 86% WORSE than originally reported.
In June it was 90% WORSE.
The latest jobs numbers:
- May: 19,000 (revised down by 125,000)
- June: 14,000 (revised down by 134,000)
- July: 73,000 (preliminary)
“This is a gamechanger jobs report,” said Heather Long told CNBC, chief economist at Navy Federal Credit Union. “The labor market is deteriorating quickly.”
CNBC also reported that: "discouraged workers and those holding part-time positions for economic reasons rose to 7.9%, its highest since March," while "long-term unemployment heated up."
The disastrous jobs report landed just as Trump "unleashed sweeping new tariffs" in a new body blow to global trade.
Trump's failure to deliver on his promise of "90 deals in 90 days" was expected, of course.
But the erratic, increasingly demented Trump has also shown the world he cannot be trusted to apply tariffs in good faith.
His new 50% tariff on Brazil — a country with which America has a trade surplus — is being applied for purely political reasons to advance the cause of global fascism.
Meanwhile, with jobs scarce and Trump's brutal cuts to SNAP and Medicaid already starting to be felt, we can now definitively add reducing the price of groceries to the list of Trump Broken Promises (see also: The Epstein Files, Ending the War in Ukraine, Gaza, etc.)
And it's not just eggs, coffee, chicken and beef prices that are going up. Major manufacturers are now warning that prices for household essentials like toilet paper, paper towels and chocolate are about to surge.
Six months into Trump 2.0 and the only people celebrating a New Golden Age are billionaires and tech bros.
For the rest of us, the only things that are looking up under Trump are prices — and the unemployment rate.
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Further reading:
6 June 2025: The Trump Jobs Crisis
The Trump Jobs Crisis
The broligarchs have been unleashed. AI is coming for your job. And Trump has no plan to protect you.
Richard Hine
3 July 2025: A Big, Beautiful Gut Punch
A Big, Beautiful Gut Punch
No jobs. Higher inflation. Now he’s going after healthcare.
Richard Hine
7 July 2025: Abundance is Coming! (But Don't Hold Your Breath)
Abundance Is Coming! (But Don’t Hold Your Breath)
Today’s union busters promise a wealth explosion tomorrow.
Richard Hine
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