'Can anyone spell recession?' Trump slammed as jobs report stuns economists

02 July

Construction workers and electricians wait in line during a lunch break, as they build California's largest battery storage facility on a 43-acre site in Menifee, California, U.S., March 28, 2024. REUTERS/Mike Blake/File Photo

Payrolls processing firm ADP reported private sector hiring contracted unexpectedly in June, with private payrolls losing 33,000 jobs.

The news came as a surprise because economists polled by Dow Jones in the weeks ahead of the ADP report had forecast an increase of 100,000 jobs for the month, despite growth in May being revised to just 29,000 jobs rather than 37,000.

The bulk of job losses happened in professional and business services and health and education, according to ADP, with the Midwest and Western regions seeing the strongest contractions.

Social media exploded at the news, partially because economists had predicted a more stable and robust economy weathering the impact of President Donald Trump’s incessant tariff threats.

“Can anyone spell RECESSION?” posted New York legislator Jon Cooper.

“This must be a huge problem for Joe Biden, right?” quipped YouTube host David Pakman, referring to Trump’s habit of blaming his predecessor for economic bumps in Trump’s economy.

Pakman pointed out that the job losses amounted to the first “in over two years,” while political analyst Marco Frieri demanded: “Is that what they call ‘Making America Great Again’?”

On the same day of the ADP report, Chamber of Progress Director Tahra Hoops noted Trump congratulating himself on the strong U.S. economy.

“THIS GROWTH has already begun at levels never seen before,” Trump declared on Truth Social, which prompted Hoops to wonder what world Trump was inhabiting.

“He lives in an alternate universe,” Hoops posted. “… It's clear employers are growing weary over Trump tariff impacts and just the continuing levels of uncertainty,” Hoops added.

Public Notice writer Aaron Rupar, meanwhile, noticed Trump’s allies at Fox news initially playing down or ignoring the bad news.

“[Entertainer] Maria Bartiromo was just on Fox News to discuss economic news, but new data showing the private sector losing jobs last month didn't come up,” Rupar posted. “Instead, she and [entertainer] Dana Perino discussed Waffle House.”

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