No fewer than 717 companies filed for Chapter 7 or Chapter 11 bankruptcy between January and November, according to S&P data reviewed by The Washington Post. This marks a 14 percent increase from the same period in 2024 and the highest rate since 2010, when the country was recovering from the Great Recession.
Firms that went bust pointed to inflation, interest rates and Trump’s trade policies — which have hampered supply chains and increased costs — as drivers of their financial troubles.
Business experts and economists told the Post that the Republican president’s broad tariffs have strained import-dependent companies. While inflation recently came in lower than expected — it was up 2.7% year-over-year in November — experts said many firms continue to shoulder added expenses to avoid raising prices for consumers.
What I notice is that the job losses mentioned are not related to AI, they are related to an economic slowdown, that on the GDP number is camouflaged by the AI bubble.
And while inflation remains reasonably low, it has increased 0.3% the past 4 months. This should not happen in a period with economic slowdown and increased unemployment. This is 100% due to Trump economics making conditions worse for American businesses.
My guess is that job numbers in January and February will be horrible.