this post was submitted on 07 Nov 2025
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“Trump put billionaires in charge of everything,” said progressive Congressman Greg Casar. “It’s a disaster.”

The US labor market, which in recent months had ground nearly to a halt, now appears to be entering a downward spiral.

As reported by the Washington Post on Thursday, new data from corporate outplacement firm Challenger, Gray & Christmas found that employers in October announced 153,000 job cuts, which marked the highest number of layoffs in that month since October 2003.

Total announced job cuts in 2025 have now reached 1.1 million, a number that the Post describes as a “recession-like” level comparable to the steep job cuts announced in the wake of the dotcom bust of the early 2000s, the global financial crisis of 2008, and the onset of the Covid-19 pandemic in 2020.

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[–] MisterNeon@lemmy.world 102 points 2 days ago (1 children)

Trump and Musk took my job. I can't spend money. The people who relied on my business have less money. There was no program or process for the laid off people to find new jobs.

The math isn't hard to figure out.

[–] the_q@lemmy.zip 12 points 2 days ago (1 children)
[–] MisterNeon@lemmy.world 40 points 2 days ago* (last edited 2 days ago) (4 children)

I was a UI/UX Designer and Frontend Developer working on a federal government contract for four years creating web apps to be used as internal facing tools. The contract got an extension and my company was a shoe in for the follow up contract for further development and maintenance.

Trump won and we were informed that the contract extension was revoked, the new contract terms were drastically changed, and the bid was denied without reason.

I've been skipping meals since May.

[–] blazeknave@lemmy.world 16 points 2 days ago (2 children)

Big 3 firm doge cuts to contracts, couldn't justify acquiring us anymore mid-deal. Stood to have my first proper exit after 20 years, and finally almost put a down payment on a starter home at middle age. I have more ways this has fucked me in business, but you get the point. This isn't even capitalism.

[–] MisterNeon@lemmy.world 7 points 2 days ago (1 children)
[–] blazeknave@lemmy.world 3 points 1 day ago (1 children)

Thanks! I'm blessed to have work when a lot of good people don't.

[–] MisterNeon@lemmy.world 2 points 1 day ago

Let me know if you can share the blessing.

[–] asRomeBurns1979@lemmy.world 9 points 2 days ago

Ah man I’m really sorry to hear that. Hopefully Virginia and New York are the first signs of a well deserved backlash. A lot of the companies that went all in on AI to replace UX/UI and research are quietly hiring back now. All the best.

[–] atomicbocks@sh.itjust.works 8 points 2 days ago (2 children)

Oof, I am also a UI/UX and middleware person. I am going on 13 months of unemployment. The job market is nonexistent right now. I’ve started looking at a career change, even though I still have 60K in student loans.

[–] HubertManne@piefed.social 7 points 2 days ago

systems admin and operations type of guy. been unemployed for the same time and the disturbing thing compared to other periods of unemployment is how often I get a response that they pulled the position.

[–] MisterNeon@lemmy.world 7 points 2 days ago

I picked up AWS certifications, Python for api development, and I'm working on my entry level program manager certification. It's not working out all that well, but it does help when interviewing.

[–] prole@lemmy.blahaj.zone 3 points 1 day ago (1 children)

Can you sue for breach of contract? Or is the federal government just allowed to "revoke" a contract extension?

[–] MisterNeon@lemmy.world 3 points 1 day ago (1 children)

Oh let me clarify I wasn't the owner. I was just a developer/designer. I have no idea what the legality is, I was just simply laid off.

[–] gravitas_deficiency@sh.itjust.works 64 points 2 days ago* (last edited 2 days ago) (2 children)

lol nice, we’re reaching .com bubble levels of layoffs, wcgw

Edit: and we’re not even officially “in a recession” lmfao

[–] fonix232@fedia.io 46 points 2 days ago (1 children)

And the AI bubble hasn't even burst yet.

[–] orbituary@lemmy.dbzer0.com 22 points 2 days ago (1 children)

Don't worry. It was on the front page of CNN; they said it hasn't happened yet, so we're good.

[–] sepi@piefed.social 9 points 2 days ago

"Bear Stearns is fine" - Pete Opsec

[–] NABDad@lemmy.world 32 points 2 days ago (2 children)

I'm guessing we can't be in a recession because the people who collect the data that we use to determine when we're in a recession have all been fired.

[–] diablexical@sh.itjust.works 20 points 2 days ago (1 children)

We’re not in a recession because imports are subtracted from GDP. Since Imports have plummeted with tariffs, gdp data gives the false impression of a growing economy. Had imports been unchanged we would’ve had negative GDP reported.

[–] prole@lemmy.blahaj.zone 3 points 1 day ago

So it's even worse than a typical recession. Cool.

[–] heavy@sh.itjust.works 9 points 2 days ago (1 children)

Pay no mind to the cumulogranite.

Everything’s perfectly alright now. We’re fine - we’re all fine… here… now. Thank you. How are you?

[–] ThePantser@sh.itjust.works 34 points 2 days ago

We so great now, the greatest.

[–] fox2263@lemmy.world 30 points 2 days ago (1 children)

MAGA-layoffs

Tell it like it is

[–] Tujio@lemmy.world 12 points 2 days ago

Trump Slump

[–] kmartburrito@lemmy.world 17 points 2 days ago
[–] 800XL@lemmy.world 15 points 1 day ago

Why is anyone surprised by this? A fascist aims to destroy an economy so he can blame it his opponents, make promises he can fix it while purging those that actually can

[–] tal@lemmy.today 13 points 2 days ago* (last edited 2 days ago) (3 children)

“Trump put billionaires in charge of everything,” said progressive Congressman Greg Casar. “It’s a disaster.”

While his cabinet is wealthy, it mostly is not billionaires (though we'll see where they wind up, since I understand that some of the policy they're running, like making executive decisions on tariff exemptions, is pretty open to corruption).

https://www.forbes.com/sites/kylemullins/2025/08/13/inside-the-richest-presidential-cabinet-ever/

Name Role Net worth
Donald Trump President $5,500,000,000
Howard Lutnick Secretary of Commerce $3,300,000,000
Linda McMahon Secretary of Education $3,300,000,000
Scott Bessent Secretary of the Treasury $600,000,000
Doug Burgum Secretary of the Interior $100,000,000
Chris Wright Secretary of Energy $100,000,000
Lori Chavez-DeRemer Secretary of Labor $35,000,000
Brooke Rollins Secretary of Agriculture $15,000,000
Robert F. Kennedy Jr. Secretary of Health and Human Services $15,000,000
JD Vance Vice President $12,000,000
Pam Bondi Attorney General $5,000,000
Kristi Noem Secretary of Homeland Security $5,000,000
Sean Duffy Secretary of Transportation $5,000,000
Scott Turner Secretary of Housing and Urban Development $4,000,000
Pete Hegseth Secretary of Defense (well, now War, I suppose) $3,000,000
Marco Rubio Secretary of State $1,500,000
Doug Collins Secretary of Veterans Affairs $1,000,000

I guess you could maybe count Elon Musk, who has...I dunno, I guess ~$300 billion at the time that he was running around the White House. But that's just Musk, Trump, Lutnick, and McMahon that break the billionaire bar.

[–] Thunderbird4@lemmy.world 17 points 2 days ago (2 children)

I’m actually kind of shocked by the names at the bottom of the list. Like really? Marco Rubio’s entire net worth is less than a cheap house in the SF Bay Area?

[–] village604@adultswim.fan 16 points 2 days ago (1 children)

That's just reported. I'm sure he has money hidden somewhere.

[–] ToastedRavioli@midwest.social 7 points 2 days ago (1 children)

Same as how Trump is probably not actually worth $5B and its inflated, considering he acts like a broke ass bitch that cant even afford a McChicken sandwich

[–] village604@adultswim.fan 4 points 2 days ago

Well, idk about Rubio's finances, but Trump is in debt up to his eyeballs.

[–] tal@lemmy.today 5 points 2 days ago

I would take this opportunity to point out that housing in the Bay Area is in ludicrously short supply and has driven house prices to pretty stupid levels. YIMBY's been banging on it, but...

[–] heavy@sh.itjust.works 5 points 2 days ago* (last edited 2 days ago)

I don't think they meant that literally, even if *there are an alarming amount of billionaires in cabinet positions. Consider the meetings and dinners with billionaires, hiring Musk as "not really" an employee, lawsuits settling for acquisitions and mergers, the White House east wing slush fund, the Qatari jet and now air base in Idaho, crypto scamming, rich guy pardons.

Essentially this administration has never been more up for grabs or influencable by money.

[–] asRomeBurns1979@lemmy.world 5 points 2 days ago

When he announced a WWE CEO as head of education for the first time ever I started wondering if we’re in a simulation. Top bracket satire.

[–] hume_lemmy@lemmy.ca 10 points 2 days ago

White House response: "Nuh uuuhhhh!"

[–] CileTheSane@lemmy.ca 9 points 1 day ago

a number that the Post describes as a “recession-like”

You know what's "recession-like"? A fucking recession.

And this is before the AI bubble bursts...

[–] WanderWisley@lemmy.world 5 points 1 day ago* (last edited 1 day ago)

“Hey America watch this!” Tank the economy, millions unemployed, millions going hungry. “Who’s still talking about Jeffery Epstein?” “I wanna golden ballroom!”🫲🍊🫱

[–] melsaskca@lemmy.ca 4 points 1 day ago

That is what happens when you artfully destroy your own countries economy because you don't want people to find out you don't know what you are doing, even when the proof is floating around everywhere.

[–] SGGeorwell@lemmy.world 3 points 2 days ago

Remember - they’re cruel. They probably enjoy saving money for their patrons and “trimming fat,” despite how they act publicly.

[–] frankiehollywood@lemmy.zip 2 points 2 days ago

AI has replaced those jobs…

[–] Bakkoda@lemmy.zip 2 points 2 days ago

Maybe we should let them borrow at 0% again. That worked last time right?

[–] Formfiller@lemmy.world 1 points 1 day ago

Well he’s certainly engineering the revolt that will be used to justify martial law.