CEO of top job board “Non-Woke” reacts to “worst” report he’s “ever” seen: “Red Flag” for 2025

According to the CEO of the leading “Non-Woke” job site, massive job losses are not a positive picture for the backbone of the American economy.

“Is this wrong?” That's what RedBalloon's Andrew Crapuchettes said in response to the Labor Department's October jobs report, which found that only 12,000 jobs were added to the economy, well below economists' expectations of 113,000.

“That’s shockingly low,” he continued. “Both hurricanes caused a lot of destruction and many construction jobs will be created. This isn't an economic recovery, and we shouldn't look at it that way, but it will create some.” But, wow, I don't know what to say. “This is the worst jobs report I've ever seen and I think it will have an impact on the entire economy.”

Crapuchettes found that October is typically the busiest time for retail hiring, before the bulk of holiday shopping takes place.

The US economy added 12,000 jobs in October, well below economists' expectations

Although economists had expected a disappointing report due to hurricane disruption and ongoing labor strikes, RedBalloon's CEO argued that it was a “red flag” for companies ahead of Election Day and into 2025.

“I also think that there is a kind of waiting, this waiting effect that is occurring with the upcoming election. I think this is an election that people are watching more closely than usual. And a lot of employers.” I just wanted to say, “You know what? I'm going to hold every setting until I figure out how to do this.” “The election is going because not only does it take up a lot of attention, but I don't know what the outcome is for the economy,” Crapuchettes explained.

“So everyone is tightening their belts, looking around and trying to figure out what’s going on,” he continued. “And small businesses have watched this election frozen. That's why I see them as the factors that drive this. That's still a shocking number. And again, probably the worst jobs report I've ever seen. In October, right in. “Before the Christmas season, it's just mind-boggling to me to only have 12,000 jobs.”

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The number of jobs created in the previous two months were both revised downwards, with the number of jobs created in August revised down by 81,000 from a rise of 159,000 to 78,000, while the number for September was revised down by 31,000 from an increase of 254,000 to 223,000.

It wouldn't surprise Crapuchettes if the October report ends up being revised as well.

“If my accountant came to me with the number of revisions we are seeing in this jobs report, I would fire that accountant,” he said, “because it is devastating to have errors like this every single month. And that's what it does.” People are nervous about this number.

“With revisions it could become negative. This would really be the first time in a long time since COVID that we would see this type of activity. So I think everyone should buckle up. I do think we will. “We will see some rate cuts from the Fed because … these jobs numbers don't feel like a soft landing, but like a very hard landing for our economy in a very turbulent political time,” the added CEO added.

The US economy created 818,000 fewer jobs than previously reported

Deregulation of corporations and small businesses is needed to spur job creation, according to the hiring expert.

“Employers need optimism. They need to know that business and the government are on their side and not against them. And I think we desperately need deregulation in this country,” Crapuchettes explained.

“We have a debt ratio of 127% of GDP. We see no signs of a slowdown in government spending. This needs to stop and this needs to be slowed down…when you hear things like taxes on unrealized capital gains,” which will never happen, but the fact that it's said out loud just makes everyone freeze… “I don't need to take any risks , I just have to try to keep as many of them as possible.” “My assets as best as I can” and that destroys money, speed and the economy.”

The U.S. economy grew 2.8% in the third quarter, slower than expected

RedBalloon's latest Freedom Economy Index survey, also conducted in conjunction with Public Square, found that 87% of respondents would close their business if the Harris-Walz ticket wins. On the other hand, 83% said they would increase hiring opportunities if Trump were re-elected.

“If you're in a place in America where the only way to survive as a business is to be a large corporation that has a lobbying organization to help you get benefits for your business, and this is the only way to survive in America. “This will destroy the American dream,” Crapuchettes said.

“When I see a jobs report like this, there are two reactions,” added the CEO. “The first reaction might be, 'I'll just fend for myself,' or 'Hey, there are people who are doing poorly in the economy.'

“When you talk about thousands or hundreds of thousands of jobs, it feels very impersonal. But these are the people who are struggling to pay their bills… Use this as an opportunity to see how you can bless someone else? How are you?” Do you want to help someone else in need? Maybe he needs a job and you can't give him a job, but you can encourage him…we have to encourage each other now because this is a pretty devastating report for a lot of families in America.

RedBalloon's CEO told Fox News Digital that the October jobs report was “pretty devastating” news for many families in America. (Getty Images)

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Eric Revell of FOX Business contributed to this report.