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Started By
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October job cuts hit highest level since 2003.
Posted on 11/6/25 at 10:42 am
Posted on 11/6/25 at 10:42 am
Dow down 490
Nasdaq down 480
Nasdaq down 480
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If tweet fails to load, click here. This post was edited on 11/6/25 at 10:59 am
18
Posted on 11/6/25 at 10:45 am to Silver Bullets
50 million on SNAP. Who needs a job.
Posted on 11/6/25 at 10:46 am to KingOrange
Dems love it, they want to blame the collapse, they caused on Trump, why they basically let him win IMO
Posted on 11/6/25 at 10:48 am to Silver Bullets
Hey another alter!!!!! Woohoo
Posted on 11/6/25 at 10:50 am to Silver Bullets
Here's the write up from CBS:
quote:
Layoffs across the U.S. soared last month to more than 153,000, marking the worst October for job reductions in 22 years, according to outplacement firm Challenger, Gray & Christmas.
Employers have announced early 1.1 million job cuts this year, the most through October since 2020, when pandemic shutdowns sent unemployment soaring.
The labor market has shifted from a "no hire, no fire" environment — when employees enjoyed job security despite slower hiring — to one where companies are cutting costs and reducing staff as they lean on AI to replace human workers.
"October's pace of job cutting was much higher than average for the month," Andy Challenger, a workplace expert and chief revenue officer for Challenger, Gray & Christmas, said in a statement.
He added, "Some industries are correcting after the hiring boom of the pandemic, but this comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes."
Federal Reserve Chair Jerome Powell cited concerns about slower hiring in announcing interest rate cuts in September and October.
The Department of Labor's monthly employment report has been on hold since the government shutdown began on Oct. 1, which delayed September's labor market data and is likely to postpone October's report.
Other measures, including data this week from payroll processor ADP that showed muted hiring by private employers, point to a job market that has cooled sharply from earlier this year.
"Those laid off now are finding it harder to quickly secure new roles, which could further loosen the labor market," Challenger added.
The National Association for Business Economics forecast last month that the nation's unemployment rate, which was 4.3 % as of August, will rise to 4.5% in 2026.
Posted on 11/6/25 at 10:51 am to CamdenTiger
quote:
Dems love it, they want to blame the collapse, they caused on Trump, why they basically let him win IMO
lol has nothing to do with the tariffs changing daily or pissing off all our trading partners?
Posted on 11/6/25 at 10:52 am to Silver Bullets
Everything's fine guys.
Posted on 11/6/25 at 10:52 am to Silver Bullets
hopefully you'll be one of them, what am i saying you don't have a job now!
Posted on 11/6/25 at 10:53 am to Green Chili Tiger
According to moodys / Mark Zandi, 22 states are currently in recession or close to it - LINK
This post was edited on 11/6/25 at 10:54 am
Posted on 11/6/25 at 10:54 am to Silver Bullets
Sounds like we need more H1Bs to bring in elite human capital to turn this ship around
Posted on 11/6/25 at 10:55 am to KingOrange
quote:
50 million on SNAP
Trump's America
But seriously the amount of people on SNAP has stayed pretty consistent.
If this graph tells us anything it tells us that we fixed the credit issue after the 2008 financial crisis but maybe we never fully recovered from it.
This chart illustrates that working age people make up a little over 40% of the distributions
Improving employment gets all of the numbers down on the chart obviously.
For Texas at least:
quote:
These findings also counter harmful myths, showing that many SNAP recipients are people and families who are working, but just aren’t earning enough to meet basic needs. From low-wage jobs to inconsistent hours, employment alone is not always enough to guarantee food security. Households receiving SNAP have an average median income of $33,000, which is less than half of what the households not receiving benefits are making.
There is a significant divide on what you think SNAP is and what it actually is.
Posted on 11/6/25 at 10:56 am to Bamanjo
No, it has everything to do with AI replacing human jobs however.
Posted on 11/6/25 at 10:56 am to IMSA_Fan
quote:
According to moodys / Mark Zandi, 22 states are currently in recession or close to it
But the US is the hottest it's ever been. I know because the president told me.
Posted on 11/6/25 at 10:58 am to DaleDenton
quote:
No, it has everything to do with AI replacing human jobs however.
So we need to pass the bill that forbids any regulation of AI to make America great again right?
Posted on 11/6/25 at 10:58 am to Bamanjo
quote:
lol has nothing to do with the tariffs changing daily or pissing off all our trading partners
Trump is trying to change the money spigot going to these countries, but anything he tries , any austerity measures will be used against him, politically. It’s actually what needs to be done, we need a President to even the playing field, but Politics gets in the way. All the past Presidents just printed money and kicked the can, so it will take a Great President to reverse course, so we shall see if Trump wants to suffer more pain, or start printing, and kicking the can ( which has what’s been done the last 50 years( 38 trillion and counting)
Posted on 11/6/25 at 10:59 am to DaleDenton
quote:
No, it has everything to do with AI replacing human jobs however.
So, pulling several hundred billion OUT of the private economy has no consequence?
Come on.,
Posted on 11/6/25 at 11:00 am to Jbird
panican's will be schit posting this crap and creating alters for at least 3 more days.
Posted on 11/6/25 at 11:00 am to Silver Bullets
Are we great again yet?
Posted on 11/6/25 at 11:00 am to Green Chili Tiger
quote:
Everything's fine guys.
MAGA!!
Posted on 11/6/25 at 11:00 am to Figgy
E
MAGA is in deep deep denial.
quote:
mployers have announced early 1.1 million job cuts this year, the most through October since 2020, when pandemic shutdowns sent unemployment soaring.
MAGA is in deep deep denial.
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