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It is getting very hard to deny that the U.S. economy is moving in the wrong direction.  Yesterday, ADP reported that the U.S. economy shed tens of thousands of jobs last month.  Today, Challenger, Gray & Christmas is reporting that U.S. employers announced a grand total of 1.17 million job cuts through the first 11 months of 2025.  That represents a 54 percent increase from the first 11 months of last year… U.S.-based employers have cut more than 1.17 million jobs so far in 2025, the highest level since the first year of the COVID-19 pandemic, according to a new report from outplacement firm Challenger, Gray and Christmas. From January to November of this year, employers cut 1,170,821 jobs, a 54 percent increase from the 761,358 jobs cut during the first 11 months of 2024. In 2020, large numbers of Americans were being temporarily laid off due to the lockdowns. But we don’t have any lockdowns in 2025. What we have instead is a rapidly deteriorating economy. Traditionally, employers have been hesitant to lay off workers just before the holiday season because it can mean bad publicity. But this November employers were not as hesitant to swing the axe as usual, and the telecom industry led the way… Telecom alone slashed 15,139 jobs, its worst month since April 2020, when the pandemic forced widespread shutdowns. For the year, telecom layoffs are up a staggering 268 percent. Other industries aren’t doing much better: tech job losses are up 17 percent in 2025, food distributors (especially those that produce beef) are up 26 percent, and service-sector layoffs have climbed 64 percent. The primary reason why the total for the telecom industry was so high last month is because Verizon suddenly decided to fire more than 13,000 employees… Verizon is set to lay off over 13,000 workers in the coming weeks as part of a cost-cutting and restructuring initiative. “Today, we will begin reducing our workforce by more than 13,000 employees across the organization, and significantly reduce our outsourced and other outside labor expenses,” newly appointed CEO Dan Schulman writes in a memo to employees that it also published online. “Every part of the company will experience some level of change.” Verizon had just over 100,000 employees as of Sept. 30, meaning the layoff will reduce the headcount by 13%. Perhaps Verizon’s new management can turn the company around. But considering the trajectory that Verizon is currently on, it will take a miracle. If you are searching for a job in this very tough economic environment, I feel very badly for you. We are being told that 30 percent of all job postings are fake, and competition for any decent jobs that are available has become extremely fierce. In the old days, having a college degree would give you an edge, but now that is a lot less true than it once was… College graduates may be losing their edge in the labor market, as the unemployment gap between them and workers with only high school degrees has narrowed and reached its lowest level in decades, according to a new report. The Federal Reserve Bank of Cleveland analyzed unemployment trends for high school and college graduates between the ages of 22 and 27, as high school graduates have typically experienced relatively higher levels of unemployment. The Cleveland Fed economists found that the unemployment gap has continually declined since the 2008 financial crisis and recently reached its lowest level since the late 1970s. In September, 25 percent of all unemployed Americans actually had a college degree. Things are particularly tough for new graduates. As I discussed the other day, Nikki Haley’s son says that not a single one of his friends that recently graduated from college has been able to land a job yet. How can anyone spin that to make it sound good? It can’t be done. We have a giant mess on our hands, and more businesses are going belly up with each passing day. In fact, a restaurant chain that had been in business for 88 years just closed their final 8 locations… Another family restaurant chain has abruptly closed all of its locations for good. K&W Cafeteria — an 88-year-old institution across North Carolina and Virginia — closed its final eight restaurants on December 1, marking the end of a dining tradition generations grew up with. ‘It is with a heavy heart that we share this news,’ the owners posted on Facebook. When I first started writing about America’s “restaurant apocalypse”, some of the skeptics thought that I was exaggerating. Of course nobody thinks that I am exaggerating now because thousands of locations have been getting permanently shuttered. U.S. manufacturing has fallen on hard times too. In fact, the Institute for Supply Management is telling us that U.S. manufacturing activity has now fallen for nine months in a row… American manufacturing contracted for the ninth straight month, a survey showed, as uncertainty tied to ever-changing tariffs and a historic government shutdown weighed on business. A closely followed manufacturing index fell to a four-month low of 48.2% in November from 48.7% in the prior month, the Institute for Supply Management said Monday. Any number below 50% signals contraction. As I have been detailing for weeks, just about every single economic number indicates that a major economic downturn is upon us. Some pundits are using the term “recession” to describe what is ahead, but the truth is that this crisis isn’t just going to be another bump in the road. As I stated yesterday, we are more than 104 trillion dollars in debt. I hope that the “prosperity” that we enjoyed during the past several decades was worth it, because now we are going to pay a very great price. Of course it isn’t just us. As Glenn Beck has aptly pointed out, this is the first time in world history when every major civilization is simultaneously facing a historic debt crisis… “For the FIRST time in recorded history, EVERY major civilization—America, China, Europe, Japan—is hitting the absolute peak of the debt super-cycle AT THE EXACT SAME MOMENT. There is no rising power waiting in the wings like there always has been. When this resets, it won’t be regional. It will be global, systemic, and sudden.” I have never had anyone explain to me in rational terms how this is going to end well. We all know that the system is going to collapse. It is just a matter of when it will happen. Considering how rapidly things are starting to unravel in 2025, it may happen a lot sooner than many people think. Michael’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com. About the Author: Michael Snyder’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com.  He has also written nine other books that are available on Amazon.com including “Chaos”, “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”.  When you purchase any of Michael’s books you help to support the work that he is doing.  You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter.  Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites.  These are such troubled times, and people need hope.  John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.”  If you have not already done so, we strongly urge you to invite Jesus Christ to be your Lord and Savior today. The post Announced Job Cuts Hit 1.17 Million In 2025 – 54 Percent Higher Than Last Year appeared first on The Economic Collapse.

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