logo
Trade adviser says Trump has "real concerns" about jobs data after president fires labor statistics chief

Trade adviser says Trump has "real concerns" about jobs data after president fires labor statistics chief

CBS News4 days ago
U.S. Trade Representative Jamieson Greer defended President Trump's decision to fire a key official responsible for employment reports, telling CBS News on Friday that Mr. Trump has "real concerns" about the accuracy of federal economic data.
Greer spoke to "Face the Nation with Margaret Brennan" hours after the monthly jobs report showed a hiring slowdown in July and revised down earlier reports for May and June. Mr. Trump reacted by firing Commissioner of Labor Statistics Erika McEntarfer, claiming — without evidence — Friday's jobs numbers were "RIGGED."
"You know, even last year during the campaign, there were enormous swings in the jobs numbers, and so it sounds to me like the president has real concerns," Greer told CBS News, adding that Mr. Trump's issues with government labor data extend beyond Friday's report.
"You want to be able to have somewhat reliable numbers. There are always revisions, but sometimes you see these revisions go in really extreme ways," said Greer.
The Bureau of Labor Statistics' reports are based on surveys of households and businesses. It's common for the agency to revise prior months' figures up or down as more data comes in. The May and June revisions — which cut the number of new jobs by a combined 258,000 — were the largest downward change in employment figures since 1979, excluding pandemic-era jobs reports, though that doesn't mean the data was manipulated, as Mr. Trump claims.
Greer defended Mr. Trump's right to fire McEntarfer, an economist who was nominated to the post by former President Joe Biden.
"The President is the President. He can choose who works in the executive branch," Greer said.
The firing drew staunch criticism, with McEntarfer's predecessor William Beach — who was first nominated in Mr. Trump's first term — calling it "groundless" and a "dangerous precedent."
"This rationale for firing Dr. McEntarfer is without merit and undermines the credibility of federal economic statistics that are a cornerstone of intelligent economic decision-making by businesses, families, and policymakers," Beach said in a statement.
Friday's report showed the economy added 73,000 jobs in July, below the 115,000 predicted by economists. The unemployment rate rose slightly to 4.2%, up from 4.1% a month earlier.
The jobs report also showed a slight drop in manufacturing jobs last month. Mr. Trump's tariff hikes are intended in part to boost American manufacturing — though critics warn some U.S.-based factories that rely on foreign-made inputs will be hurt by tariffs.
When asked about July's manufacturing data, Greer — one of Mr. Trump's trade negotiators — told CBS News he doesn't "read tariff policy into that number."
Instead, Greer argued that the numbers reflect conditions prior to the Trump-backed One Big Beautiful Bill Act that passed through Congress last month. He argued businesses were "waiting to see" if some of the bill's tax provisions would pass, including parts that GOP lawmakers believe will encourage more business investment.
"I think that we're going to see a big increase in manufacturing jobs now that we have the 'one big, beautiful bill' passed," Greer said. "And I think that … our manufacturers know that they have a clear and certain path forward on that now."
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Jim Cramer Highlights Microsoft's $4 Trillion Moment and AI-Driven Strength
Jim Cramer Highlights Microsoft's $4 Trillion Moment and AI-Driven Strength

Yahoo

time26 minutes ago

  • Yahoo

Jim Cramer Highlights Microsoft's $4 Trillion Moment and AI-Driven Strength

Microsoft Corporation (NASDAQ:MSFT) is one of the stocks that Jim Cramer spoke about. During the episode, Cramer discussed the company's recently posted strong earnings. He said: 'What should it have been about? Well, how about Microsoft? How about Meta? Nope. They were overshadowed by the Fig-Man Carnival. It was all anyone talked about down here. Call me old-fashioned, but I really wanted the market today to be defined by those earnings reports from two tech titans. I'm talking about Microsoft, briefly a $4 trillion company today, before closing just below that level, and Meta at just under $2 trillion. I wanted these to be foundational… Pixabay/Public Domain Microsoft Corporation (NASDAQ:MSFT) provides software, cloud services, devices, and AI-driven tools across productivity, business applications, and personal computing. The company's major platforms include Microsoft 365, Azure, LinkedIn, Xbox, , and WGitHubindows. While we acknowledge the potential of MSFT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Jim Cramer Questions Spotify's Latest Numbers
Jim Cramer Questions Spotify's Latest Numbers

Yahoo

time26 minutes ago

  • Yahoo

Jim Cramer Questions Spotify's Latest Numbers

Spotify Technology S.A. (NYSE:SPOT) is one of the stocks that Jim Cramer spoke about. A caller asked if the stock is a buy or hold given that the economy seems to be faltering. In response, Cramer said: 'I was so mystified by Spotify. That was a really not great number. I don't get it. I don't know what happened. I can't own the stock until I figure out what the heck happened.' Photo by Norbert Buduczki on Unsplash Spotify (NYSE:SPOT) provides audio streaming services through subscription and ad-supported models, providing access to a vast catalog of music and podcasts. Cramer suggested buying the stock during a June episode: 'My confidence in subscription model extends to Spotify. This incredible company dominates the podcast business and the music business, and of course, the new high list. It's roaring right now, but it does have periodic moments of underperformance, and that's when you gotta snap it up [buy, buy, buy].' While we acknowledge the potential of SPOT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio

TripMasters Unveils Curated Itineraries for Personalized Adventures
TripMasters Unveils Curated Itineraries for Personalized Adventures

Yahoo

time26 minutes ago

  • Yahoo

TripMasters Unveils Curated Itineraries for Personalized Adventures

SILVER SPRING, Md., Aug. 5, 2025 /PRNewswire/ -- Ready to embark on a tailor-made adventure? Visit to explore the diverse range of travel packages and find the perfect itinerary that matches your interests. Whether you're a foodie, an outdoor enthusiast, or a family seeking a memorable getaway, TripMasters has something special in store for you. TripMasters has launched new travel packages, along with their existing offers, designed to highlight experiences for every type of traveler. They understand that no vacation is one-size-fits-all, so now you can easily find the trip that matches your interests, whether it's family-friendly fun, culinary and wine adventures, wildlife encounters, scenic road trips, outdoor adventures, or whatever your interests. TripMasters has crafted interest-based packages to fulfill the growing demand for personalized, unforgettable travel experiences. "At TripMasters, we believe your vacation should be as unique as you are! That's why we're so excited to offer even more curated experiences! These range from food and wine escapes to thrilling wildlife encounters and off-the-beaten-path destinations." Kate Quigley, Product Manager, continued, "We're bridging the gap between DIY booking sites and traditional tours, giving you the freedom, curated experiences, and cost savings all in one place." As global tourism rebounds, more than 1.4 billion people traveled internationally in 2024, according to Yahoo News . With more travelers than ever eager to explore the world, TripMasters stands out by offering unique, customizable itineraries that cater to individual passions. These new travel packages offer a variety of options, including: Costa Rica's Nature & Wildlife : Featuring private transfers from point to point, included and optional activities, and TripMaster's own 5-star local concierge support. Gourmet Getaways : Indulge in the flavors of Europe with expertly curated gastronomic adventures. Scenic Road Trips: Discover hidden gems and iconic landmarks on unforgettable journeys. Arts & Culture: Explore culture through art, music, dance, and traditions. TripMasters occupies a unique position in the travel industry, bridging the gap between DIY booking sites and traditional tour operators. Enjoy the freedom to customize your itinerary to match your travel style, while taking advantage of curated experiences that highlight the very best each destination has to offer. Plus, their platform combines flexibility, affordability, and simplicity, making it easy to plan multi-city adventures tailored to your exact interests. With reasonable pricing and an intuitive booking system, TripMasters opens the door for more travelers to explore the world on their terms. Media Contact: Stephanie Merrithew, smerrithew@ Founded in 1984, is a leader in customizable, multi-destination travel. With a pioneering online platform, Tripmasters empowers travelers to design flexible, personalized itineraries across Europe, Asia, the Americas, Canada, the Pacific, and beyond. Whether planning a romantic getaway, a family adventure, or a luxury escape, customers can choose from thousands of destinations, mix and match flights, hotels, and activities, and build trips with up to 12 cities—all in one seamless booking process. Tripmasters combines the convenience of technology with expert customer support to deliver exceptional value and unforgettable travel experiences. View original content to download multimedia: SOURCE TripMasters Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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