president Donald Trump Attribute the recent rise in unemployment to the decline in government jobs. He also emphasized that all new jobs are created in the private sector.
Trump acknowledged the rise in unemployment during his most-favored-nation drug pricing press conference on Friday, but emphasized that the “only reason” this is happening is because of the significant loss of government jobs.
He emphasized that the loss of government jobs is unprecedented and will continue. The president explained that there are “millions” of people in the federal workforce working in jobs that “never even exist.”
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Trump further claimed that he could lower the unemployment rate to 2%, 1%, or almost zero “just by hiring people in the federal government,” even though those jobs would be unnecessary. “We don’t need 10 people to fill a job,” he said.
“100 percent of our new jobs are in the private sector,” the president said. “So that’s been the case over the past few months…This is how you make America great again.”
Trump also said private sector job growth will improve further as new construction, artificial intelligence and auto factories continue to be built across the country.
Trump’s comments came after the U.S. labor market showed signs of cooling in November, with job growth barely meeting already weak expectations and the unemployment rate rising to 4.6%, a four-year high.
As Trump highlighted, U.S. nonfarm payrolls increased by 64,000 in November, adding 69,000 jobs, as private sector hiring was stronger than expected.
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However, some of the gains were offset by a drop of 5,000 government jobs, resulting in weak overall employment growth. The reduction in the total federal workforce is due to the government shutdown and across-the-board layoffs that Trump has made throughout his term. Ministry of Government Efficiency (Governor-General).
Top economists and experts expressed concern about a slowdown in the U.S. labor market after the November data was released. economist Justin Wolfers He said it was unclear whether the economy had entered a recession, but noted that employment trends pointed to a clear slowdown. He also said the economy has created “zero jobs” since Trump’s “Liberation Day” tariffs. However, Wolfers’s claims cannot be corroborated by data.