"During a Friday night interview with Treasury Secretary Scott Bessent, Fox's Laura Ingraham presented data showing that unemployment rates reached a four-year high in November, asking, What's the reason job losses seem to be going up? The reporting Ingraham cited was published this week by The Wall Street Journal and relied upon a delayed government report released Tuesday which found that the country's unemployment rate reached 4.6% last month, marking the highest measurement in more than four years."
"The government reduction kicked in, continued Bessent. I can tell you that over the short, medium, and long-term, the economy will be much better off with more private sector jobs, more government I mean, fewer government jobs. And I expect that next year, we're gonna see the private sector come out the other side. So, AI boom, Ingraham kept on questioning, is that definitely gonna lead to more American job"
Unemployment rose to 4.6% in November, the highest reading in more than four years, according to a delayed government report. Inflation has fallen to about 2.2%, while earnings growth has slowed. Treasury Secretary Scott Bessent attributed part of the unemployment increase to government reductions in force that took effect after the fall government shutdown. Approximately 17,000 government workers were laid off and 7,000 probationary employees were fired this year. Bessent said fewer government jobs and more private-sector employment will strengthen the economy over time and predicted private-sector job gains next year. Questions about AI's impact on jobs were raised.
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