Trump administration sees record number of job cuts in 2020, surpassing those during COVID-19 pandemic.

New statistics show that Americans are facing layoffs at a pace not witnessed since the height of the COVID-19 pandemic. In November 2025 alone, companies announced 71,321 job cuts, pushing the cumulative total for the year to 1.17 million.

Consultancy firm Challenger, Gray & Christmas reported that the frequency of layoffs this year is 54% higher than during the same period in 2024 and matches levels last seen in 2020. Despite President Trump touting achievements in job creation, boosting domestic production, and easing the cost of living, the numbers tell a different story.

The November layoffs, while lower than Octobers 153,074 terminations, still mark a 24% increase compared with November 2024. This surge has made 2025 the worst year for layoffs in the past five years. The figures represent only announced cuts, with actual totals potentially varying.

Economic analysts suggest that Trumps fluctuating global tariff strategy contributed to the spike in job losses. Estimates indicate that tariffs alone accounted for roughly 8,000 job reductions so far this year. Andy Challenger, chief revenue officer at the firm, noted that Novembers layoffs above 70,000 have been rare, occurring only twice since 2008.

Industries most affected include technology, telecommunications, retail, and services, each shedding between 38,000 and 154,000 jobs this year. Traditionally, companies have avoided end-of-year layoffs since the financial crisis, but this year saw a notable return to this pattern.

Earlier in the year, the White House celebrated employment growth, claiming over half a million new private-sector jobs and emphasizing a focus on domestic workers. However, Challengers report paints a contrasting picture. By November, planned hires totaled 497,151, a 35% decline from 761,954 in 2024 and the lowest year-to-date since 2010.

Amid mounting criticism over his focus on foreign policy, President Trump is set to tour key states, including Pennsylvania, to promote his economic record. Some positive signals exist: initial unemployment claims dropped by 27,000 to 191,000 by late November, marking the lowest level in three years.

Still, public sentiment reflects economic strain, with a recent poll finding 46% of adults feel the cost of living is at its worst, including 37% of Trump supporters.

Author: Natalie Monroe