It was never real growth. The so-called “booming” service sector last quarter? Just inflated prices masking stagnation. The illusion of expansion disappears the moment you look at the numbers. And now, the consequences are here.
200,000 jobs—gone in less than a month. This isn’t just a blip. Consumer spending will take a hit. Housing won’t be far behind. But don’t expect the impact overnight. This is a slow-motion unraveling.
Government jobs were bloated under the prior administration. Just like tech over-hired during the pandemic, Washington swelled its workforce beyond sustainability. Now comes the correction.
The numbers out of D.C. are staggering. Initial jobless claims have spiked to 1.6 million, doubling in just weeks. This is the highest since early 2023. Unemployment claims have now surpassed levels seen during the 2008 Financial Crisis.
Sources:
https://x.com/RealEJAntoni/status/1894020465074516224
