A ‘Now Hiring’ sign at a store in Manhattan, New York, on January 9, 2026. SPENCER PLATT/GETTY IMAGES VIA AFP
The US economy is doing well, except that those who keep it running, American employees, are not fully benefiting from this good fortune. Labor market figures released on Wednesday, February 11, by the Bureau of Labor Statistics initially appeared positive, with a net gain of 130,000 jobs in January, a rebound that far exceeded forecasts, and a steady unemployment rate at 4.3% (down from 4.4% in December). However, the report also included far more troubling data: Previous years’ figures had been significantly revised downward. Since Donald Trump’s return to power, only 180,000 jobs have been created, or 15,000 per month – the slowest pace since the recession years following the 2008 financial crisis or the Covid-19 pandemic. In other words, while the US economy posted remarkable growth, it did so with few, if any, new jobs.
Trump, unsurprisingly, focused on the positive part of the report, boasting in all caps on his social media: “GREAT JOBS NUMBERS, FAR GREATER THAN EXPECTED!” “The United States of America should be paying MUCH LESS on its Borrowings (BONDS!),” he immediately added, claiming that the country would be in budgetary balance with lower rates, which is false.
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