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BlueWavePsych

(3,157 posts)
Fri Aug 1, 2025, 01:32 PM Aug 1

New jobs numbers hint at Great Recession 2.0

Friday's jobs report should send a chill through every American's spine, as it showed that job growth in the United States was virtually nonexistent over the last three months—a direct consequence of the chaos President Donald Trump created with his nonsensical tariff policy.

The U.S. economy added just 73,000 jobs in July, the Bureau of Labor Statistics announced, missing forecasters' already measly expectations of 110,000 jobs.

That makes the last three jobs reports the weakest since the anomaly of the COVID-19 crisis. Not taking the COVID-19 months into account, this was the worst three consecutive months for job creation since 2010 and the aftermath of the Great Recession.

"This labor market is in trouble," Navy Federal Credit Union Chief Economist Heather Long wrote in a post on X. "Healthcare [and] social assistance are pretty much the only sectors hiring. This is NOT healthy."


https://www.dailykos.com/stories/2025/8/1/2336232/-New-jobs-numbers-hints-at-Great-Recession-2-0
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