Trump demands firing of senior official after jobs numbers report
He accused her of 'faking' jobs numbers before the 2024 election to 'try and boost Kamala's chances of victory,' in a blistering post to Truth Social. 'We need accurate jobs numbers. I have directed my team to fire this Biden political appointee, IMMEDIATELY.
She will be replaced with someone much more competent and qualified,' he stated. Hiring growth dropped dramatically last month and unemployment ticked up, the latest jobs report released on Friday showed.
Nonfarm payrolls added 73,000 in July, far lower than the 100,000 expected by analysts. The unemployment rate also ticked up to 4.2 percent. The report also sharply revised down the figures for May and June by a combined 258,000 jobs from the previously released figures.
Following the revision June's total was left at just 14,000 and May's at 19,000 — effectively flat. Analysts say July's figure is also likely to be revised lower, possibly into negative territory. Stocks tumbled in pre-market trading with the S&P 500 down around one percent, and the Nasdaq down around 1.1 percent before the bell.
The latest figures suggest cracks are in fact starting to show up in the economy, despite a slew of previous better-than-expected economic data released recently. It comes after the Federal Reserve once again held rates steady at its July meeting on Wednesday.
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