Something VERY BAD is Happening in The Job Market | NO JOBS LEFT

So, um, instead of before that I lost my job, I got fired. It's going on a month now, um, and I'm still waiting on unemployment. I haven't gotten any updates, so I haven't gotten anybody yet. Um, luckily my dad, who's in his f***ing 80s, is helping me, and that's really embarrassing. And I don't want to put that pressure on him. Breaking news, as the Challenger job report is out, and it is a nasty one, as the year-to-date job cuts now reach nearly 700,000 job cuts, which is only 65,000 job cuts away for the total combined year of 2024. The job market is unraveling, and it is unraveling fast. And remember this, you guys, once unemployment really starts taking off, it's almost unstoppable because mass layoffs cause more mass layoffs. It's a really destructive doom loop. So, today we're going to look at why these job cuts are happening, where are these job cuts happening, and what industries are these job cuts taking place in. We're also going to hear from multiple Americans on their status of employment, and some of these people have been trying for months to find a job but can't, and others are currently training their replacements. One of the things for sure that I want to tell you guys is, do not quit your job. I repeat, do not quit your job unless you 100% have another job that's already lined up, because the United States and American job market is absolutely bonkers. And welcome back to Real Estate Mindset. The Challenger report for May 2025, this came out today, June 5th, 2025. May job cuts are up 47% year over year. U.S.-based employers announced 93,816 job cuts in May. That's down 12% from April, but it's up 47% year over year. This time last year there were 63,800 job cuts, so a lot more this year. Now tariffs, funding cuts, consumer spending, and overall economic pessimism are putting intense pressure on companies' workforces. Companies are now spending less, slowing hiring, and sending layoff notices. Now this chart is from January to May as far as job cuts, and these are different years. So you guys can see that the last time we've had this pace of job cuts was during lockdown. We literally had to lock down society and no one could leave their house. That's the last time that we've had the job cuts that we have right now. Through May, employers have announced 696,309 job cuts, which is an increase of 80% year over year. 80% higher year over year, and last year was already bad. It is 65,049 job cuts away from matching the entire year total for 2024. Now what that didn't mention, that this video is going to mention, is that some people that aren't fired yet are currently training their replacements. Imagine doing that, and comment below, how would you feel knowing that you're going to get fired? Part of the requirement that in order to stay, you have to train your replacement. Probably not going to feel very good. Listen to how she feels. My team has decided to replace our jobs within billing, and give it to what they call a global team, which is essentially people that are in India. Fine, whatever, so I'll do something else in the company. They just asked us to join this group chat with all these people that are in India, so that we could train them. No. You're giving them my job and then you want me to train them on top of it? No. Hire someone. Figure it out. That's your problem, not mine. I'm sorry, I'm not doing that. That's ridiculous. It would be different if I was quitting and I was training my replacement, but I'm not. You chose to take my job away and give it to people in India who will work for a lot less, so train them yourself. What's kind of funny is that when I told my supervisor that I wasn't going to be doing this, she's like, well, it's required by management, and I was like, that's nice. Is it in my contract? No. It doesn't say that I'm a trainer, so if you want to pay me extra to be a trainer, then maybe I'll consider it, but I probably still wouldn't do it. So just so she doesn't get into trouble, I joined the chat, but I immediately blocked it and muted it and everything because I like my supervisor. I don't want her to get into trouble, but yeah, I'm not training people who are taking my jobs away. Sorry. The unfortunate thing, you guys, is she may have to in order to stay employed there, but I want to remind you guys, just think of three years ago. Look at how much the pendulum in the job market has swung. The job market right now in the U.S. is an absolute dumpster fire. We know this. Remember three years ago when you would walk up to the nearest gas station, and on those gas station windows, it would say, hiring now, $1,000 sign-on bonus. Do you guys remember that? Well, guess what? That's no longer the case. The pendulum has now swung and is swinging the other direction. Let's talk about the top five industries that are laying off right now. Starting with the number one industry, which is the government. The government is leading the way by far with job cuts. So far for 2025, government job cuts topped 284,000. Over a quarter million people have been laid off from the government. Just to put this in comparison, look at where we were at year to date in 2024. 2024, we were sitting at 36K. Right now, we're at 284K. Thank God they're doing something about the overwhelming spending. Sadly, they're not paying off the debt. They're not talking about amortization, which is a huge issue, but at least they're not spending as wastefully as they were before. Now, number two should be no surprise. It's retail as a direct result of consumers being tapped out right now. And remember, 70% of GDP is from consumer spending, which is why me and Mitch are always saying, hey, median income really matters, and that's why these prices aren't sustainable, and that's why the market and the economy is imploding. There's just not enough wages, but retail's sitting at 75,000 job cuts year to date for 2025. In 2024, this time of year, it was only at 20,000. So that's gone up more than three times than it was at in 2024. Number three is now technology, which is also higher than last year, 74,000 job cuts for technology so far. Last year, the pace was at 55,000. So job cuts in the technology sector also skyrocketing. Number four is services sitting at 44,000 job cuts. This time last year, it was only 24,000. So again, it is skyrocketing from where it was last year. Warehousing's shockingly up 34, nearly 34,000 job cuts so far in 2025. This time in 2024, it was only 9,000. So just looking at this data on your screen right now, you can see the pendulum is swung, and it's swinging. And now the question is, once unemployment really, really starts to spiral, how long is it going to take for the job market and labor market to get back to normal? Remember, you guys, it can take 5 to 10 years for the job market to get back to where it was, say, in 2018 and 2019. Unemployment is almost unstoppable, which is one of the reasons why the Federal Reserve keeps talking about it. Now, unfortunately, the jobs that are still there don't pay nearly enough to keep this whole economy and even job market sustainable. And I'm going to tell you guys right now, the number one person responsible for that is the Federal Reserve. But now what I want to do is play a video of an American. She's a young lady, and she quit her job without having another job lined up. And now she's trapped. And I want to reiterate, OK, I know it's really hard out there. I know we're working like crazy. I know we work to pay off our debt. It sucks, you guys. But do not, I repeat, do not quit your job. Things get way harder when you're not making money. So as I mentioned, I quit my job without having another job lined up. I don't think I did a bad thing. I don't think I did the wrong thing. I think I prioritized myself for the first time in 33 years and, like, think maybe money isn't, like, worth everything anymore. I don't know. I don't know where I'm at. It's hence the midlife crisis. But, like, my favorite part is, like, the older members of my family being, like, you know, well, when you're ready, you can talk to so-and-so because she'd love to talk to you to help steer you in the right direction. And what direction would that be? What, I'm in the wrong direction because I'm putting myself first because I'm 33 and, like, essentially at risk to have a heart attack from stress, so I'm in the, what? I hate to break it to you, but that's just how life is. And unfortunately, as you're learning, life isn't fair. And I would say the track that you should probably get on is is not quitting things unless you have something else lined up because, again, remember, you stop bringing in money and the bills keep coming. That you're about to find out in this video, it's becoming increasingly difficult just to even find a job. According to Challenger, job cuts by reason. So here's Doge, and this is for May. To the right of that column is year to date. So Doge actions, only 872 layoffs for the month of May, whereas the year to date, a whopping 284,000. Now, the number two reason it's saying right here is the market slash economic conditions. And that can mean many things, especially consumer spending habits being in the gutter. Now it's at 35,909 layoffs for that reason. The year to date is 131,000, so a lot. Now, number three reason is closing down their company completely, which is horrible. That is 33,888 people. Imagine that, guys. 33,000 families just impacted because the company they work for shut down. But when you look to the right of that, there's actually 94,000 for the entire year. The number four reason is restructuring, sitting at 14,388 layoffs just this month from restructuring. Total year to date, as you can see here, is 62,000. Now, the number five reason is bankruptcy. And it's saying for some reason that there's no layoffs this month from bankruptcy, which is really surprising. Maybe they just didn't get the data. But the total year to date for bankruptcy is 35,000. Now, number six is technology update, probably AI. Total year to date, an even number, which is odd, at 20,000 zero for the month. Just to reiterate the fact, do not quit your job, even if you're stressed, even if you're burnt out, even if you don't like your coworkers, your managers. Do not quit your job unless you 100% have a better job lined up. And I want you to listen to this next young woman who is literally, you guys, trying everything she can think of, including great resume, finding help from other people, and she cannot find a job. Listen to her. Put a finger down if you're laid off and have been applying for jobs for over two years. You've applied to hundreds of jobs and tailored your resume to every single one of those applications. You used TrapGPT. You've done courses. You've networked. You've gotten dozens of referrals. You've joined a job search council. You've got a career coach. You've lowered your standards so much that now you only apply to entry-level jobs, even though you have over 10 years of working experience and still don't even get those. So now you work five different part-time jobs, barely making 40K a year, live in low-income housing, and now we live in a looming recession, and the job market's about to crash, and you truly don't know what to do next. The primary party responsible for creating such a toxic labor market is the Federal Reserve, and all of the massive amounts of dollar debasement, or another word for that is inflation or money printing, has absolutely wrecked us as Americans, and we can't even afford to live. Even if I go get another job right now, making $80,000, all that's going to allow me to do is get in debt less quickly. At least if I'm a normal American, that's what's happening, and that's why I keep telling you guys, hey, remember, we're not making more money, but everything that we do just to live is now way more money, so re-budget for the sake of all that's holy, and I'm going to tell you right now, I know if you're listening to this, you have too many subscriptions, and you go out to eat too much, I can almost guarantee, again, you that's listening right now, you want to save $1,000? You want to save $1,000 a month? Stop going out to eat, and cancel all of the subscriptions that you have that you don't absolutely need. As a result of all of the fraud and debt bubble from the Federal Reserve and the subdivisions of the Federal Reserve, which are companies like Fannie Mae and central appraisal districts, companies can no longer afford to even hire. Let me show you guys. Announced hiring plans by month, and I want to point out that, according to the Challenger, and think of how low this is, there's only been announced hiring plans in May under 10,000 people, so under 10,000 people, according to this report, under 10,000 jobs are going to be available in May. That's absolutely, absolutely crazy. Now, when we go to the bottom, and we look at the total, look at this, guys. The total for the entire year, 2025, job hiring plans are only sitting at 80,000, and to put this in perspective, when we look at 2021, the total amount of job hiring plans for the year was 1.7 million, so 1.7 million there. You guys, we're nearly halfway through this year, and it's not even at 80,000. Last year, we had a total of 769,000 for the whole year. Again, you guys, we are almost halfway through. There is essentially a hiring freeze. Now, not in every industry, but when we look at the total, when we look at things in whole, and remember, you guys, layoffs are gonna feed into more layoffs into more layoffs. The layoffs are a doom loop, and that's exactly what you're seeing right now, and the thing is this. It's barely, barely even started. Now, again, if you're thinking of quitting, I want you to listen to one more video of a middle-aged woman who's trying everything she can to find a job, but there's just simply nothing there for her. For those of you that don't know, I was fired from my job on January the 5th of 2025, and let me tell you, it's been a little bit of a roller coaster ever since then. I am in a waiting phase right now. You know, God talks about the waiting phases that we're in, the waiting season, and I am in one. I have literally applied for over 50 jobs, okay, and I can keep a record of them because I do it on Indeed nine times out of 10. That may be the problem. I don't know. I've never had to apply for a job through Indeed, and I've gotten eight interviews, eight. Now, do you know how many times I've been on an interview in my 42 years of living that I have not got the job? Zero, zero, and it's not because I'm a great person. It's not because I'm the best thing ever. It's just because I'm, you know, good at talking the game, I guess. I don't know. I do do a good job at whatever I do, and I do it to 100%, so maybe that's why. I don't know, but either way, I've gotten offered none of them. She's not having much luck out there like millions of other Americans that are looking for a job right now. Just to really hit this home, as I was making this video about how bad the job market is right now, this article came out, so again, in the middle of me working on something to warn you guys to say, hey, things are falling apart. You may want to hold off on buying any big purchases, and you may want to keep your job. This article comes out. Procter & Gamble mass layoffs loom as consumer goods giant plans 7,000 job cuts. Here's what to know. Absolutely crazy, you guys, so 7,000 P&G jobs to be lost. On June 5th, chief financial officer were speaking at the Doche Bank Global Consumer Conference in Paris. The company announced a new growth strategy, which is laying people off, so that's their growth strategy. Unfortunately for a great number of Procter & Gamble employees, the organizational design part of its revamp is just another term for layoffs. P&G executives said that as part of the organizational design revamp, the company would be cutting 7,000 jobs over the next two fiscal years. Now they're citing portfolio and supply chain challenges coming, what is driving the job and brand cuts. So let's read this last part. What's interesting about Procter & Gamble's announcements is some of the word choices they used. While the company did not directly reference President Donald Trump's ongoing tariff war as the reason for its three-pronged revamp, it's hard not to feel that the current tariff uncertainty wasn't at the front of the P&G executive minds when making these decisions. Procter & Gamble had 108,000 employees worldwide, which means this reduction would equate to about 6% of its workforce. In other words, what I'm saying is this, do not, I repeat, do not purchase any big ticket items like a house or like a car. You don't want to do that in the middle of the pendulum swing. There's too much uncertainty. There's too much gaslighting. There's too much smoke in the air for us to really accurately know what's coming next. The only thing that we do know is that no one could afford a Lyft and the job market is falling apart. And the reason for that is, in my opinion, the Federal Reserve. And as a result of all of those things, as a result of what always happens, boom and bust and boom and bust, right now what we need to be doing is protecting our purchasing power, our savings, and our livelihood. We want to get out of the rat race. We don't want to be a part of what most people are doing, which is foolishly spending their money and keeping their head in the sand. And I hope by watching these videos that you guys are going to be ahead of everyone else. And as a result of that, your purchasing power is going to be strong through the recession and you're going to be able to find deals of your dream. But in the meantime, as I said, do not quit your job. And other than that, guys, if you're out there investing in real estate, you're investing in your job, you're investing in yourself, whatever it may be, you guys already know I wish you luck and I hope you win.