Even worse, the Trump Administration is selling this as a good thing. They're arguing that a lot of these losses are from negative aspects of our economy, such as bloated government and undocumented workers, and from areas that are readjusting to economic shifts triggered by the tariffs (read: onshoring).
But onshoring isn't really happening at the rate Trump wants because of low confidence that the tariffs will remain as-is in four years, because of supply chain issues with manufacturing equipment, because government dependencies such as permits, grants, and infrastructure are in chaos because of cuts, and because it takes a long time to stand everything up. So a lot of companies are just eating the costs of tariffs and shutdowns and cutting elsewhere (read: layoffs) just so that they can survive and regroup after Trump.
And positions vacated by undocumented workers just aren't being backfilled fast enough because of low wages, location, training, and desirability. That's having a knock-on effect down the line, resulting in layoffs elsewhere. Worse, nobody really knows when it will all stabilize.
So no... these are not just short-term transient losses. Things are getting ugly out there and we're likely tipping into recession. This goes double if the AI bubble bursts and datacenter building collapses. And since we've burnt so many of our foreign trading partners, it is likely weak exports will keep the country in recession for much longer.