{"id":1055443,"date":"2025-08-01T10:32:19","date_gmt":"2025-08-01T14:32:19","guid":{"rendered":"https:\/\/democrats.org\/?p=1055443"},"modified":"2025-08-01T10:32:20","modified_gmt":"2025-08-01T14:32:20","slug":"the-trump-economy-has-arrived-trumps-chaotic-economic-agenda-results-in-massive-job-losses-and-skyrocketing-prices","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/the-trump-economy-has-arrived-trumps-chaotic-economic-agenda-results-in-massive-job-losses-and-skyrocketing-prices\/","title":{"rendered":"The Trump Economy Has Arrived: Trump\u2019s Chaotic Economic Agenda Results in Massive Job Losses and Skyrocketing Prices"},"content":{"rendered":"\n
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In the last 24 hours, Donald Trump imposed the largest tariffs since WWII, as the U.S. economy had the \u201cweakest 3-month period of job growth since COVID\u201d <\/em><\/p>\n\n\n\n

In response to the July jobs report,<\/em> <\/em>DNC Communications Director Rosemary Boeglin released the following statement:<\/em><\/strong><\/p>\n\n\n\n

\u201cDonald Trump promised he\u2019d bring costs down on Day One and deliver a \u2018Golden Age\u2019 for America. Six months later, prices are up and job losses have skyrocketed \u2014 reaching levels not seen since the pandemic \u2014 as hiring slows to a near standstill. Working families aren\u2019t being \u2018liberated,\u2019 they\u2019re being robbed by Trump\u2019s billionaire-first economic agenda. As Republicans head home for the August recess to sell the least popular budget bill in modern history, they will have to explain to their constituents that they just voted for the largest-ever redistribution of wealth from the bottom to the top while Trump drives our economy off a cliff.\u201d <\/p>\n\n\n\n

NEW: Donald Trump\u2019s chaotic trade war has led to the weakest three-month period of job growth since COVID \u2014 adding just 73,000 jobs in July \u2014 and destroyed the American manufacturing sector, killing over 28,000 manufacturing jobs. <\/strong><\/p>\n\n\n\n

Jamie Dupree<\/a>: \u201cMay-June-July is the weakest 3-month period of job growth since COVID.  If you throw out 2020, it’s the weakest 3-month period since 2010 and the aftermath of the Great Recession.\u201d<\/strong><\/p>\n\n\n\n

Bureau of Labor Statistics<\/a>: \u201cManufacturing employment fell by 11,000 jobs, <\/strong>bringing the total manufacturing jobs losses since Trump entered office up to 28,000.\u201d<\/p>\n\n\n\n

Mike Konczal<\/a>: \u201cThis is a bad jobs report. <\/strong>73,000 jobs would have been worrisome to begin with, but deeply negative revisions to the previous two-months wiped out much of the recent gains. 2025 looks a lot worse the further we get into it.\u201d<\/p>\n\n\n\n

Trump and Republicans just passed a bill gutting health care and shuttering hospitals, nursing homes, and medical centers across the country, which will kill hundreds of thousands of health care jobs.<\/strong><\/p>\n\n\n\n

Joe Weisenthal<\/a>: \u201cBasically the only sectors of the US economy that are adding jobs are healthcare and social assistance. Here’s your 73K jobs just in those two categories.\u201d<\/p>\n\n\n\n

Commonwealth Foundation<\/a>: \u201cNationwide, 1.22 million jobs could be lost in 2029 due to Medicaid and SNAP cuts. \u2026 Nearly 500,000 jobs would be lost in health care<\/strong> (for example, hospitals, physician and clinic offices, pharmacies, and long-term care providers), while the rest would be spread across other sectors of the economy, especially food-related sectors.\u201d<\/p>\n\n\n\n

In Trump\u2019s failing economy, inflation for durable necessities hit a 38-year high.<\/strong><\/p>\n\n\n\n

Heather Long, Washington Post<\/a>: \u201cJUST IN: PCE inflation rose 0.3% in June. That takes the annual inflation increase up to 2.6% (highest since February).<\/strong><\/p>\n\n\n\n

\u201c\u2018Core\u2019 PCE inflation <\/strong>(excluding food and energy) ticked up to 2.8%<\/strong><\/p>\n\n\n\n

\u201cThe most interesting data is WHAT people are and aren\u2019t buying. Take a look at the chart. People are really staying away from cars and car parts out of fear of tariffs.\u201d<\/strong><\/p>\n\n\n\n

Ernie Tedeschi, Yale Budget Lab<\/a>: \u201cDurable goods have risen in price by 1.7% so far year to date. Other than the depths of the pandemic, that\u2019s the strongest 6-month rise in PCE durables prices since 1987.\u201d  <\/strong><\/p>\n\n\n\n

Trump is plowing ahead with his chaotic trade policy by imposing the highest tariff levels since World War II. <\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cHighest US Tariffs Since WWII Set to Cut Growth, Boost Inflation\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cThe overall US tariff level is now the highest since the 1930s and about six times what it was when Trump took office at the start of this year.<\/strong><\/p>\n\n\n\n

\u201cThe hit to the world economy will reach $2 trillion by the end of 2027 relative to its pre-trade war path, Bloomberg Economics projects.\u201d<\/p>\n\n\n\n

New York Times<\/a>: \u201c[F]or firms that depend on global supply chains and markets, the tariffs the administration is imposing or threatening can be more of a harm than a help.\u201d<\/p>\n\n\n\n

Bloomberg<\/a>: \u201cPresident Donald Trump\u2019s flurry of trade deal announcements are so far proving light on detail \u2014 with key aspects still under negotiation, partners giving mixed signals about what they signed up for, and big numbers shrinking under scrutiny.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

In the last 24 hours, Donald Trump imposed the largest tariffs since WWII, as the U.S. economy had the \u201cweakest 3-month period of job growth since COVID\u201d  In response to the July jobs report, DNC Communications Director Rosemary Boeglin released the following statement: \u201cDonald Trump promised he\u2019d bring costs down on Day One and deliver […]<\/p>\n","protected":false},"author":292,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1055443","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nThe Trump Economy Has Arrived: Trump\u2019s Chaotic Economic Agenda Results in Massive Job Losses and Skyrocketing Prices - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/the-trump-economy-has-arrived-trumps-chaotic-economic-agenda-results-in-massive-job-losses-and-skyrocketing-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-01T14:32:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-01T14:32:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1101\" \/>\n\t<meta property=\"og:image:height\" content=\"483\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adrianna Tomasello\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adrianna Tomasello\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/the-trump-economy-has-arrived-trumps-chaotic-economic-agenda-results-in-massive-job-losses-and-skyrocketing-prices\/\",\"url\":\"https:\/\/democrats.org\/news\/the-trump-economy-has-arrived-trumps-chaotic-economic-agenda-results-in-massive-job-losses-and-skyrocketing-prices\/\",\"name\":\"The Trump Economy Has Arrived: Trump\u2019s Chaotic Economic Agenda Results in Massive Job Losses and Skyrocketing Prices - 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