Trump fired labor chief for weak work in July, reporting hopes to be lost
Panelists for “The Big Money Show” discuss slower employment growth from July and call for the Federal Reserve to take action against interest rates.
president Donald Trump On Friday, he was criticised by the Bureau of Labor Statistics (BLS), saying that he would fire the director of labor statistics after adding fewer jobs in the US economy than expected in July, and that a major downward revision has been made in the past two months.
The BLS reported it on Friday Added 74,000 jobs in Julyfar below the Economists’ estimate of 110,000 voted by the LSEG. The report also revised downward employment growth in May and June. Profits in May were reduced from 125,000, creating just 19,000 jobs, but the June figure fell to 133,000, adding that month.
According to BLS, the last revisions exceeded 133,000 in March 2021 was over 133,000, and the revisions to one-year-olds have been a cooperative pandemic for a year.
U.S. employment growth cooled in July amid growing economic uncertainty
President Donald Trump will speak with reporters on the South Lawn of the White House in Washington on Thursday, August 1, 2019, before departing for a campaign rally in Cincinnati. (AP Photo/Evan Vucci) (AP/AP Communication)
Trump He worked on his true social platform and was informed that “we have been informed that our country’s ’employment numbers’ are being produced by Biden’s appointee, Labor Statistics Commissioner, Dr. Erica Mantelfer. Elections, August and September, these were records.
“We need accurate work numbers. I have directed the team to fire this Biden political appointee right away. She will be replaced by a more capable and qualified person,” Trump continued.
“Those important figures must be fair and accurate. They cannot be manipulated for political purposes,” the president wrote. “McEntarfer said it had only added 73,000 jobs (shocking!), and more importantly, 258,000 jobs had 258,000 jobs in the last two months.
WASHINGTON, DC-June 21: The US Labor Headquarters building will be seen at dusk in Washington, DC on June 21, 2024. (J. David Ake / Getty Images / Getty Images)
“The economy is booming under ‘Trump’. This time, they hope to select “Kamala” despite the Fed’s cut interest rates twice and lower interest rates twice just before the presidential election. Thank you for taking note of this issue! ”
The Fed’s favorite inflation gauge shows consumer prices have risen again in June
In a sarcastic twist, Mentarfar was confirmed in the Senate in January 2024 by a vote of 86-8. One of the people who voted for her confirmation was then Senator JD Vance.
Workforce participation rate was 62.2%, a 0.5 percentage point decline last year, but it has remained largely unchanged for a month.
US Vice President JD Vance will give a speech during the plenary session of the Artificial Intelligence (AI) Action Summit held at Grand Palais, Paris, France on February 11, 2025. (Reuters/Benoitésier/Reuters)
The number of people considered long-term unemployed, defined as unemployed for more than 27 weeks, has increased from 179,000 to 1.8 million. Long-term unemployed accounted for 24.9% of all unemployed people in July.
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The number of workers employed part-time for financial reasons has almost changed in July to reach 4.7 million. These workers would have preferred full-time jobs, but they worked part-time because of reduced time or because they were unable to find a full-time job.