people. it s replacing some jobs. yeah, in some respects, it s kind of weird that it took this long to see the start showing up in the data. but you re absolutely right, chatgpt was released back in november. fast forward to may, we get this challenger jobs report, this is the thing, as you mentioned, that lays out all the layoffs that are being announced by companies in the u.s.. comes out monthly, usually the list of reasons for layoffs is boring. it s restructuring, maybe some offshoring, things like that. but this month, for the first time ever, included a category four a i. 3900 jobs lost, as you mentioned, and i guess the big question now, is which careers and which categories are most exposed to this risk. the numbers in context, we created well north of 300,000 jobs in the month of may, 800,000 manufacturing jobs in the last couple of years. 13 million jobs in total. they number small, but that s why you use the coronavirus example. the day we first heard about coronavirus
doesn t pass. and economists have predicted that that could lead to 8 million jobs lost, retirement accounts would be hit, we could tip into a national and global recession. and so what s critical in this legislation is that we act that congress acts to prevent default. and that s what we heard from most members of congress, that we briefed, yesterday, on the democratic side of the aisle. the hundred members of the new democrats, the center-left coalition in congress put out a supportive statement. congressman clyburn put out a supportive statement. they re just getting the bill text. it will take some time for members to review this. we re hopeful this is a reasonable bipartisan compromise that members of both parties will support the agreement. i m not hearing an answer when it comes to the house rules committee. is that a major concern for the white house this morning? well, look, we ll leave to the speaker to win support from republicans in congress to move those forward. yes
important step forward and it takes a thread of catastrophic default off the table, protects our hard-earned and historic economic recovery and it represents a compromise which means no one got everything they want. but that s the responsibility of governing and this is a deal that is good news for, i believe you ll see, the american people. the agreement prevents the worst possible crisis, a default for the first time in our nation s history. an economic recession, retirement accounts devastated, millions of jobs lost, it also protects key priorities and accomplishments and values that congressional democrats and i have fought long and hard for. investing in america s agenda is creating good jobs and communities throughout the company country. it protects social security, medicare and veterans. the speaker and i made clear from the start that the only way forward was a bipartisan agreement. that agreement now goes to the united states house and to the
american people. the agreement prevents the worst possible crisis, a default for the first time in our nations history. an economic recession, retirement accounts devastated, millions of jobs lost, it also protects key priorities and accomplishments that we have fought long for, long and hard. investing in america s agenda creating good jobs and communities throughout the country. protecting social security medicare and veterans and so much more. the speaker and i made it clear from the start that the only way forward was a bipartisan agreement. that agreement now goes to the united states house into the senate. i strongly urge both chambers to pass that agreement. let s keep moving forward on meeting our obligations and building the strongest economy in the history of the world. i will take a few questions. you said at the beginning that the debt ceiling was not negotiable.
that, i m paraphrasing, it s not theened of the world if america defaults on its debt. i don t think it s the end of the world. i don t know what a default looks like. is it something that happened slowly over time and within day two or three america we pass a debt ceiling. i don t think it is the end of the world to default. that doesn t mean i m encouraging a default. you don t think it s a threat to the economy? even now there s some jitters even before we get to the actual date. just today some ceos say devastating scenario, jobs lost, failt and credit around the world, devastated. so what does that look like? does that look like the stock market drops a thousand points, probably. is it something other countries take seriously and america isn t going to support its debt or honor its obligations, i don t think anybody takes that seriously. right now there s a political fight going on.