Hiring in the US is the lowest in 15 years.
What a mess the economy is.
ECONOMY: As if anyone needed further proof of the Biden-Harris regime’s unparalleled economic incompetence, the latest employment data paints a bleak picture for America’s workforce. Layoffs in August surged to a 15-year high, while hiring in 2024 has hit historic lows—a testament to the economic decay wrought by four years of Democrat mismanagement. The Challenger, Gray & Christmas report, a respected source in employment trends, revealed that August layoffs skyrocketed by 193% from July, reaching a staggering 75,891 job cuts. And yet, it’s the tech sector, the supposed engine of future economic growth, that bore the brunt of the blow, announcing 41,829 cuts—the highest in nearly two years.
Where’s the administration in all of this? Busy stacking bureaucracy on top of bureaucracy, of course. The Biden-Harris duo, in their endless pursuit of progressive pipe dreams, has completely derailed an already fragile job market. In an era where businesses are desperate for policy clarity and a stable economic environment, we instead see endless pandering to the DEI checklist and hand-wringing over artificial intelligence. It’s no wonder companies are slashing their workforce: they’re simply bracing for impact under the crushing weight of the administration’s regulatory and fiscal chaos.
Even as nonfarm payrolls are allegedly growing, the reality on the ground tells a much darker story. Hiring has collapsed to the lowest levels seen since the Challenger survey began 19 years ago. Only 6,101 new jobs were added in August, an anemic figure when compared to previous years. The administration’s policies have not only failed to stimulate growth but have actively stifled innovation, choked small businesses with regulations, and left employers wary of making any new hires in the face of constant economic uncertainty.
And what’s the Democrats’ answer to this looming disaster? More red tape and misguided initiatives. The labor market is softening rapidly, yet this administration continues to be more focused on their climate and social agendas than on addressing the real, urgent needs of American workers. Artificial intelligence may have made the cut as a job loss culprit, but the real AI at play here is the “administrative incompetence” that defines this administration.
In essence, Biden and Harris are leading the charge to bury America’s workforce under the weight of bad decisions and worse policies. It’s high time they face the consequences of their catastrophic mismanagement. Let’s hope the Republican leadership steps in to steer this sinking ship back on course.
h/t
@unusual_whales
ECONOMY: Layoffs jump in August while hiring in 2024 is at a historic low, Challenger report shows. https://t.co/3iF5Wu959Y
— @amuse (@amuse) September 20, 2024