Beyer On Disastrous Jobs Report: “This Is Not An A Economy”

Today the U.S. Bureau of Labor Statistics (BLS) issued its November jobs report, which found that the unemployment rate rose to 4.6 percent, the highest level since the pandemic, while the economy lost jobs on balance over the months of October (-108,000 jobs) and November (+64,000 jobs). In the seven months since President Trump's tariffs took effect, the U.S. economy has averaged just 17,000 jobs added per month, a dramatic decrease from the monthly average of 168,000 the year before Trump took office.

Rep. Don Beyer, Senior House Democrat on the Joint Economic Committee, said:

"This disastrous jobs report makes it clear that this is not an 'A++++ economy' as President Trump claimed, it's an economy at risk of sliding into recession.

"Trump's tariffs are most to blame for the hiring slump. In the year before Trump took office, the U.S. economy averaged 168,000 jobs added per month. In the seven months since his tariffs went into place, that number has fallen to just 17,000. Our economy lost jobs in three of those months, after not seeing a single negative monthly job number since Trump's first term. The national unemployment rate rose to 4.6 percent, the highest number since the Delta wave of the pandemic hit the U.S. in August of 2021.

"Even Trump's Chief of Staff now admits Trump's tariffs were 'more painful than [she] expected.' Tariffs were supposed to bring back manufacturing jobs, but manufacturing job numbers are plummeting. The Black unemployment rate is now over 8 percent, and wage growth is falling as inflation rises. Americans are paying more for groceries, electricity, housing, and health care, as Republicans prepare to pass even more legislation that will drive costs higher. Meanwhile they continue to surrender their power to stop Trump's tariffs - the one thing they could do that would most help our flagging economy."

New analysis released by the Joint Economic Committee finds American families have already paid an average of $1,200 each in tariff costs since President Trump was sworn into office in January.