logo
Trump removes official overseeing jobs data after dismal employment report

Trump removes official overseeing jobs data after dismal employment report

Leader Live3 days ago
Mr Trump, in a post on his social media platform, alleged that the figures were manipulated for political reasons and said that Erika McEntarfer, the director of the Bureau of Labour Statistics, who was appointed by former president Joe Biden, should be fired.
He provided no evidence for the charge.
'I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,' Mr Trump said on Truth Social. 'She will be replaced with someone much more competent and qualified.'
Mr Trump later posted: 'In my opinion, today's Jobs Numbers were RIGGED in order to make the Republicans, and ME, look bad.'
The charge that the data was faked threatens to undercut the political legitimacy of the US government's economic data, which has long been seen as the 'gold standard' of economic measurement globally.
Economists and Wall Street investors have long accepted the data as free from political bias.
After Mr Trump's initial post, labour secretary Lori Chavez-DeRemer said on X that Ms McEntarfer was no longer leading the bureau and that William Wiatrowski, the deputy commissioner, would serve as the acting director.
'I support the President's decision to replace Biden's Commissioner and ensure the American People can trust the important and influential data coming from BLS,' Ms Chavez-DeRemer said.
Friday's jobs report showed that just 73,000 jobs were added last month and that 258,000 fewer jobs were created in May and June than previously estimated.
The report suggested that the economy has sharply weakened during Mr Trump's tenure, a pattern consistent with a slowdown in economic growth during the first half of the year and an increase in inflation during June that appeared to reflect the price pressures created by the president's tariffs.
'What does a bad leader do when they get bad news? Shoot the messenger,' Democratic senate leader Chuck Schumer of New York said in a Friday speech.
Ms McEntarfer was nominated by Mr Biden in 2023 and became the commissioner of the Bureau of Labour Statistics in January 2024.
Commissioners typically serve four-year terms but since they are political appointees can be fired.
The commissioner is the only political appointee of the agency, which has hundreds of career civil servants.
The Senate confirmed Ms McEntarfer to her post 86-8, with now vice president JD Vance among the yea votes.
Mr Trump focused much of his ire on the revisions the agency made to previous hiring data.
Job gains in May were revised down to just 19,000 from a previously revised 125,000, and for June they were cut to 14,000 from 147,000.
In July, only 73,000 positions were added. The unemployment rate ticked up to a still-low 4.2% from 4.1%.
'No one can be that wrong? We need accurate Jobs Numbers,' Mr Trump wrote. 'She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate, they can't be manipulated for political purposes.'
Mr Trump has not always been so suspicious of the monthly jobs report and responded enthusiastically after the initial May figures came out on June 6 when it was initially reported that the economy added 139,000 jobs.
'GREAT JOB NUMBERS, STOCK MARKET UP BIG!' Mr Trump posted at the time.
That estimate was later revised down to 125,000 jobs, prior to the most-recent revision down to just 19,000.
The monthly employment report is one of the most closely-watched pieces of government economic data and can cause sharp swings in financial markets.
The disappointing figure sent US market indexes about 1.5% lower Friday.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Thousands to rally in Bangladesh one year after Sheikh Hasina's fall
Thousands to rally in Bangladesh one year after Sheikh Hasina's fall

The Independent

timean hour ago

  • The Independent

Thousands to rally in Bangladesh one year after Sheikh Hasina's fall

Thousands of people are expected to attend rallies, concerts, and prayer sessions in Bangladesh 's capital of Dhaka on Tuesday for the first anniversary of the deadly protests that ousted Prime Minister Sheikh Hasina. The events will culminate in a declaration touted as a roadmap for democratic reform in the political journey from an uprising sparked by economic woes and repression to rule by an interim government led by Nobel peace laureate Muhammad Yunus. "Together, we will build a Bangladesh where tyranny will never rise again," Mr Yunus said in a message to the nation a year after protests forced Ms Hasina to flee to neighbouring India, as he paid tribute to those who sacrificed their lives. A peaceful, fair, and transparent election could be held early next year, Mr Yunus said. He pledged a return to full democratic rule at a time of mounting pressure for a swifter transition amid growing labour unrest. "Fallen autocrats and their self-serving allies remain active," however, he added, urging unity to protect the gains of the uprising while his government holds reform talks with political parties and civil society. His interim government had launched sweeping reforms, he added, while trials for those responsible for the "July killings" were progressing swiftly. Police were on high alert throughout the capital, with armoured vehicles patrolling the streets to deter any attempt by Ms Hasina's banned Awami League to disrupt the day's events. "Let this anniversary not be a day of retrospection, but a rallying cry for a brighter tomorrow," Ms Hasina said in an open letter to the people of Bangladesh, adding that she had never resigned from her duties as prime minister. "Bangladesh has overcome adversity before, and we will rise again, stronger, more united, and more determined to build a democracy that truly serves its people." The July Declaration, to be announced later in the day by Mr Yunus, will formally recognise the 2024 student-led uprising and the shift away from authoritarian rule to democratic renewal. Despite some opposition, it is backed by major political groups, including the Bangladesh Nationalist Party (BNP), led by former premier Khaleda Zia. Supporters see the charter as a foundation for institutional reform, but critics have warned that its impact could be largely symbolic in the absence of a legal framework or parliamentary consensus.

Indian rupee down; likely saved from all-time low by RBI intervention
Indian rupee down; likely saved from all-time low by RBI intervention

Reuters

timean hour ago

  • Reuters

Indian rupee down; likely saved from all-time low by RBI intervention

MUMBAI, Aug 5 (Reuters) - The Indian rupee weakened on Tuesday as U.S.-India trade tensions escalated, though likely central bank intervention helped avert a slide to a record low. The currency was at 87.8275 to the U.S. dollar at 1:15 p.m. IST, weaker than Monday's close of 87.6550. It earlier fell to 87.8850, near the February record low of 87.95. The rupee opened at 87.85 per dollar on possible central bank intervention, with traders saying the RBI sold dollars through state-run banks ahead of market open to help prevent a breach of the 88 level. "The central bank has absorbed the tariff-related impact and prevented the big figure to change for now," a currency trader with a private bank said. U.S. President Donald Trump again threatened to substantially raise tariffs on Indian goods, citing India's continued purchases and resale of Russian oil. India's foreign ministry vowed to take "all necessary steps" to protect national interests and economic security, fuelling fears of an escalating trade row after U.S. President Donald Trump imposed surprise 25% tariffs on Indian imports last week. Traders warned that persistent foreign outflows from Indian equities may accelerate if talks stall, further pressuring the local currency. President tariff threats on India, outflows from domestic equity markets, panic buying by importers and dollar index unable to find a clear direction are adding to pressure on the rupee, said Kunal Sodhani, vice president at Shinhan Bank India. "For USD/INR, breaking the onshore all-time highs of 87.95 will open doors to uncharted territory and may let the pair test 88.50 levels, while any close below 87.60 may bring consolidation back to the pair."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store