The Dark Tale of 1.2 Million Lost Jobs: Economic Doom Strikes Again

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The data, brought to us by the ever-hopeful global outplacement firm Challenger, Gray & Christmas, landed on Thursday, and, oh, how it might help explain the sudden collapse of Bitcoin.

Layoffs Reach a Desperate Milestone: 1.2 Million…and Rising

In the quiet, foreboding shadows of Chicago, Challenger, Gray & Christmas-a firm that deals in the sorrow of displaced souls-has issued a grim report, one that seems to have passed by unnoticed by many: nearly 1.2 million Americans have been cast aside in 2025. It’s a figure that strikes fear into the heart of the observer. The last time such widespread bloodletting of jobs occurred outside of the pandemic was during the so-called ‘Great Recession,’ 16 long years ago, when 1.24 million people were tossed aside, their futures discarded like old shoes.

71,321 positions vanished into the abyss of unemployment in November alone, a drop from October’s 153,074 but still an alarming number. In comparison to November of the previous year, when only 57,727 positions were torn away, one might almost celebrate the smaller number, but alas, the carnage remains too great to ignore. Right on the heels of this tragic announcement came another report from the human resources experts at ADP, who revealed a shocking 32,000 job loss in the private sector. Truly, a delightful day for the economy!

Yet, the truly striking figure-one that cannot be dismissed so easily-is the running total of 1,170,821 job losses in the first eleven months of 2025. A sobering contrast, one might say, to the 761,358 cuts of the same period in 2024. Economists may bicker over the reasons behind Bitcoin’s troubling price fall, but surely no one can deny that a nation hemorrhaging nearly 1.2 million jobs is not a recipe for economic triumph. It is, in fact, the sixth such calamity since 1993 when job cuts through November surpassed the 1.1 million mark.

Don’t Go Blaming It All on AI

(DOGE was the real culprit behind the job cuts in 2025. Surprisingly, AI is a mere afterthought. / Challenger, Gray & Christmas)

What’s to blame for this widespread misery, you ask? The mighty Department of Government Efficiency, that’s what. Nearly 300,000 federal employees were shown the door. The nebulous “market and economic conditions” were the cause of almost 250,000 other layoffs. And as for the AI panic-well, it was responsible for a paltry 55,000 job losses. Even if we add in the “technological updates” to the AI tally, we still come up well short of the 75,000 mark. So, next time you hear someone whining about AI taking over, tell them to check their facts.

“Artificial Intelligence (AI) accounted for 6,280 cuts in November,” the report notes with chilling precision. “So far this year, AI has orchestrated 54,694 job eliminations, bringing the grand total since 2023 to a meager 71,683 job cuts.” Hardly the mass extinction event some would have you believe.

The State of the Market, in Case You Care

Meanwhile, Bitcoin-a shimmering beacon of financial hope-was worth $90,146.16 as the report was compiled. That’s a 1.57% decline from the day before, but a modest 5.88% gain for the week, according to Coinmarketcap. It seems the cryptocurrency tried to rise from the ashes, though it traded as low as $89,068.19 and reached a fleeting $92,267.11 between Sunday and Monday.

(BTC Price / Trading View)

As the trading volume soared 31% to $57.49 billion, it appeared the markets were trying to wake from their stupor, but alas, the market capitalization fell to $1.79 trillion. Bitcoin dominance dipped to 59.12%, slipping by a mere 0.61%. The overall market seems to be treading water, uncertain of what direction to take. And, of course, futures open interest only increased by 0.09%, which means no one is placing any big bets either way.

(BTC Dominance / Trading View)

Finally, liquidations fell below $100 million for the first time in several days, reaching a total of $90.58 million. Long investors were the biggest losers, with $53.83 million wiped out. As for short sellers, they also felt the sting, though their losses were more modest, totaling $36.75 million in liquidated margin. A true testament to the chaos that reigns in these times.

FAQ ⚡

  • Why are layoffs approaching 1.2 million in 2025?
    Oh, just the usual suspects: economic slowdown and those lovely government-driven cuts. The culprits responsible for the highest job loss rate since 2009.
  • How severe were the November job cuts?
    71,321 layoffs in November-lower than October, but still higher than last year. Not exactly a rosy outlook.
  • Is AI the villain behind most job losses?
    Absolutely not! AI only accounts for a meager 55,000 cuts, far behind the forces of government and economic forces.
  • What does this mean for Bitcoin and the markets?
    With 1.2 million jobs disappearing, the chances of a booming market are slim. Risky assets like Bitcoin may find themselves weighed down by recession fears.

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2025-12-09 00:30