Alarm bells are ringing for Republicans over the abysmal jobs report, released Tuesday, which revised down the number of jobs created between March 2024 to March 2025 by almost 1 million.
Although this revision falls mostly during President Joe Biden’s term, the burden will be carried by President Donald Trump's administration.
“In Trump’s first administration there was one year they had to revise jobs down . . . they do this often, but we’ve never seen one this big,” said NBC News’ Senior Business Correspondent Christine Romans.
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Speaking with the Hill, Rep. Don Bacon (R-NE) warned the U.S. economy is "in a rough spot."
“My take is that we’re in rough spot. The jobs numbers are low,” Bacon said. “If you look at industrial jobs, if you look at the farm economy right now — the farm economy is looking pretty bleak. I don’t see where tariffs have helped us yet; I don’t see a lot of corn and soybeans being bought.”
Bacon, who is not running for a sixth term, argued the reason Trump won was because of inflation during Biden’s term, nothing, “the Clinton administration said it’s the economy, stupid.”
Senator Jerry Moran (R-KS) agreed, saying, “The economy could be better than it is.”
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Moran blames Trump’s tariffs, telling the Hill, “My conversations at home in August, at least in the manufacturing business sector, were about the difficulties that tariffs were making and increasing the cost of production and keeping them from buying new equipment in the manufacturing process.”
JP Morgan Chase CEO Jamie Dimon is also jittery about the economy, telling CNBC, “I think the economy is weakening. Whether it’s on the way to a recession or just weakening, I don’t know.”
Moody’s chief economist Mark Zandi was more blunt, saying that the United States is “in a jobs recession.”
Still, Republicans like Sen. John Cornyn (R-Texas) see a bright spot in the bleak news.
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“I know the economy’s awfully important. That’s one reason why I’m hopeful the Fed follows through on a cut to … the rate this month,” he said.
He may get his wish. On Wednesday, U..S wholesale inflation unexpectedly declined in August for the first time in four months, contributing to the GOP case for the Federal Reserve to cut rates.
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