A Disturbing New Jobs Report Completely Contradicts Trump's Boasts About the Strength of the Economy
This doesn't look good.
President Donald Trump frequently touts an unemployment rate that continues to fall.
Though Trump credits himself for the low numbers, the trend began under former President Barack Obama and has steadily continued for over 70 months.
But according to a report from Challenger, Gary & Christmas—the oldest outplacement and career firm in the United States—job cuts are at their highest for a first quarter in 10 years, with cuts reaching 190,410, soaring by 35% from the same time one year ago.
The firm said in a statement:
"Companies appear to be streamlining and updating their processes, and workforce reductions
are increasingly becoming a part of these decisions. Consumer behavior and advances in technology are driving many of these cuts."
The news flies in the face of Trump's presentation of prosperity.
@realDonaldTrump Donny are you lying again or just plain ignorant? Job layoffs surge 35% to highest level to start… https://t.co/x8oTpfxvIx— Rocky (@Rocky) 1554385403.0
So much for the trump economy. He now gets responsibility for this although will attempt to blame everyone else.… https://t.co/lGGvPfjnDZ— gspinell (@gspinell) 1554384740.0
Trump losing his best case for reelection... Job layoffs surge 35% to highest level to start a year in a decade https://t.co/pIovMT2RHV— SidneyB (@SidneyB) 1554398126.0
The scrutiny of the President is growing.
@zoobrain1 Now seems a good time for #DemForce to show who’s really going to bat for ppl incl #Trump voters. Trump’… https://t.co/RPxe3rz6bS— BobbieJane 🌹🆘 (@BobbieJane 🌹🆘) 1554395895.0
@realDonaldTrump US job layoffs just hit decade high! Are you going to claim credit or blame it on someone else?— Diane Jacobs (@Diane Jacobs) 1554398798.0
What happened to “more jobs, better wages” that Trump promised? https://t.co/pmVHwgPSkf #Promisesbroken #Offshorenomore— Good Jobs Nation (@Good Jobs Nation) 1554383221.0
With the economy being one of his biggest talking points, Trump better assure Americans soon, or he may not get the chance to in 2020.