Latest news with #LaborStatistics
The Herald Scotland
an hour ago
- Business
- The Herald Scotland
Donald Trump announces new Bureau of Labor Statistics leader
Trump fired Erika McEntarfer, the U.S. commissioner of Labor Statistics, earlier this month, accusing her without evidence of manipulating data for "political purposes" after the Labor Department reported the United States added a disappointing 73,000 jobs in July. The firing raised concerns about the future accuracy and integrity of the nation's job numbers. Like Trump, Antoni has criticized the BLS' jobs data. Trump declared in his social media post announcing Antoni's nomination that "our economy is booming." But recent BLS reports indicate an economic slowdown. The July report also revised payroll gains for May and June down by 258,000. That left May's additions at 19,000 and June's at 14,000, the weakest performance since the nation was climbing out of the COVID-19 recession in December 2020. Contributing: Joey Garrison and Paul Davidson, USA TODAY
Yahoo
13 hours ago
- Business
- Yahoo
Trump Smears and Fires the Disastrous Jobs Numbers Messenger
President Donald Trump has responded to Friday's weak jobs numbers by firing the bureaucrat in charge of them and claiming the data was politically manipulated. Hours after the latest figures revealed that Trump's chaotic trade policies had contributed to 258,000 fewer jobs than first thought, the president posted an angry tirade accusing the Commissioner of Labor Statistics, Dr. Erika McEntarfer, of fudging the figures. 'I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,' he wrote on Truth Social. '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.' The extraordinary response came six hours after the report showed a slowdown in job growth, with only 73,000 new jobs for July and unemployment rising to 4.2 percent. But in a brutal reality check for Trump, there were only 14,000 new jobs in June, far less than the previously stated 147,000; while the May count fell to just 19,000, revised down from 144,000. The figures were described as 'less than ideal' by the president's own chair of economic advisers, Stephen Miran. Supporters also admitted they were linked to the president's policies, which had likely led companies to slow their hiring amid the uncertainty. But Trump had been unusually quiet about the numbers until his attack on McEntarfer shortly after 2 p.m. In his post, he also claimed without evidence that she had rigged data before last year's election to 'try and boost Kamala's chances of Victory.' McEntarfer was appointed under the Biden administration in January 2024, after a bipartisan Senate vote. Before that, she spent most of her career as an economic researcher at the U.S. Census Bureau. Within minutes of Trump's post, Wikipedia had been altered to reflect her firing, saying she 'was relieved of her role on August 1, 2025, by President Donald Trump, after being accused without evidence of skewing jobs data.' The news of her sacking angered some in Washington, even in a capital that has become accustomed to the president's retribution firings. Dan Koh, a former chief of staff at the Department of Labor, which oversees the Bureau of Labor Statistics, said on X: 'I cannot tell you how outrageous this is. 'Commissioners are appointed to a fixed term. We had a Trump appointee we worked closely with. Nobody is faking numbers. Revisions happen all the time.' Trump ally Laura Loomer praised the decision as a 'great job' by the president. 'Every single Biden holdover must be FIRED,' she said. But businessman Kevin O'Leary, another Trump supporter, took a different view, telling CNN: 'We had bad print on jobs. I don't agree on whacking the Commissioner.' In a second post after ordering McEntarfer to be fired, Trump claimed the jobs numbers were 'rigged' to make him and Republicans look bad. But his rage over the lower revised figures come despite the president regularly touting upward revisions. In June, for instance, when the numbers suggested a much higher-than-expected gain, the president quickly credited this to his pro-growth policies, such as tariffs, re-shoring and immigration. Today, however, his own allies acknowledge that the 'chaos' surrounding his trade policies had contributed to the poor results. 'This disappointing number is a result of all the turmoil of tariffs and trade wars,' Heritage Foundation economics fellow Stephen Moore told Fox Business. 'I talk to small businesses all over the country. A lot of their businesses came to a standstill, they didn't know if they could get their parts in, they didn't know what was going on.' DNC Communications Director Rosemary Boeglin said if the president wanted someone to blame for the latest figures, 'he should take a look in the mirror.' 'This isn't the People's Republic of Trump—just because he's humiliated by the mess he's made, the president doesn't get to fire the economists who give business owners and the public data about the health of our economy,' she said. The Daily Beast has reached out to McEntarfer for comment. A spokesperson for the Bureau of Labor Statistics confirmed that she had been fired, and that Deputy Commissioner William Wiatrowski will now serve as Acting Commissioner.
USA Today
3 days ago
- Business
- USA Today
Why Trump's firing of labor data chief won't threaten integrity of jobs figures. Probably
President Donald Trump's abrupt dismissal of the U.S. Commissioner of Labor Statistics after a disappointing employment report has raised concerns about the future accuracy and integrity of the nation's vital jobs numbers. Some economists and former government officials are responding to the mounting worries with a simple message: Chill out. These experts cite three reasons Trump administration officials are not likely to manipulate the statistics for political reasons: There's too much data underlying the most publicized jobs figures; broadly comparable numbers are published in other reports; and there are disincentives for chicanery. 'I think it would be pretty hard to revise any statistics' based on politics 'or try to fudge the numbers somehow,' said Sara Estep, an economist at the left-leaning Center for American progress. Still, Estep and other experts say the trustworthiness of the data is being called into question – a development that itself could have a negative impact on the economy and markets – and outright attempts to massage the numbers aren't out of the realm of possibility. 'The concern is that this could mark the start of a slippery slope toward greater White House influence over economic statistics, which in a worst-case scenario might involve censoring, reengineering, or suspending official releases like payrolls or CPI (inflation) to serve the Trump administration's agenda,' Capital Economics wrote in a note to clients. A White House spokesperson didn't immediately return an email message seeking comment. But on "Meet the Press" on Aug. 3, Kevin Hassett, director of the National Economic Council, told moderator Kristin Welker that Trump simply wants to make the jobs report more transparent. "If there are big changes and big revisions – we expect more big revisions for the jobs data in September, for example – then we want to know why. We want people to explain it to us," Hassett said. What was the jobs report for July? On Aug. 1, Trump fired Erika McEntarfer, the commissioner of the Bureau of Labor Statistics, after the agency reported a disappointing 73,000 job gains in July and, more significantly, revised down payroll additions for May and June by a historically massive 258,000 positions. Economists said the large revisions can be explained by small business' unusually low response rates to BLS' initial surveys as they grapple with cost increases from Trump's double-digit tariffs on imports and the effects of the duties on business confidence and hiring. But on Truth Social, Trump said without providing evidence that 'today's Jobs Numbers were RIGGED in order to make the Republicans, and ME, look bad,' noting McEntarfer was appointed by former Democratic President Joe Biden. After firing McEntarfer, he appointed William Wiatrowskias interim BLS head and said he would name a permanent replacement within days. William Beach, McEntarfer's predecessor as BLS chief and a Trump appointee, said it's 'impossible' for a BLS commissioner to manipulate the jobs data. He added that person doesn't see the report until the numbers are loaded and readied for distribution the Wednesday before its release the first Friday of the month. Keith Hall, who was appointed BLS commissioner by former President George W. Bush and served from 2008 to 2011, told USA TODAY that too many career, nonpartisan civil servants have a hand in drafting the report for the data to be distorted. About 40 people, both Republicans and Democrats, see the final jobs number shortly before publication, Beach previously said. Is Trump trying to control independent federal agencies? Yet, economists worry Trump could test that presumption. His removal of McEntarfer marks his latest challenge to federal agencies whose independence is critical for a smoothly functioning economy. For months, Trump has tried to badger Federal Reserve Chair Jerome Powell into lowering interest rates and has threatened to fire him, though experts say Powell can't be removed without cause. Economists say the jobs report is considered the global gold standard for accurate and unbiased economic data, providing the best broad snapshot of the U.S. economy in close-to-real time and helping guide the actions of investors, corporations, governments and consumers. Trump's removal of McEntarfer 'presents risks to the conduct of monetary policy, to financial stability, and to the economic outlook,' JPMorgan Chase economist Michael Feroli wrote in a note to clients. He added 'the risk of politicizing the data collection process should not be overlooked.' Here's why some experts say they're not worried about the reliability of the jobs numbers: Other federal jobs measures If a BLS commissioner or other key employees finagled the jobs numbers, 'discrepancies would quickly emerge in other metrics like jobless claims, which are reported at the state level and [are] less prone to federal influence,' Capital Economics said in its research note. Initial unemployment insurance applications provide a reliable gauge of layoffs. And the jobs report represents the net total of all layoffs, hiring, quits, retirements and job switches across the economy. Private jobs reports Even if the administration 'brought all major statistical agencies under tight control, economists and investors could still infer the true state of the economy from private sources,' Capital Economics said. Those include the ADP employment report and job postings from Indeed, the leading job search site. 'Any tampering with official data would likely be exposed sooner or later and would be politically damaging once uncovered,' Capital Economics said. Markets are watching – and reacting If evidence emerged that the administration was fiddling with the jobs data, investors likely would demand a higher return for holding assets as such as U.S. Treasuries, pushing up interest rates, Capital Economics said. Trump has fervently advocated for lower rates. The research firm added that 'the administration has some inclination to avoid upsetting markets – especially when it leads to higher bond yields and increased debt-servicing costs.' Trump tends to push the envelope but not rip it up Trump has shown a propensity to push the boundaries in his efforts to achieve his goals 'without clearly crossing' the line, Capital Economics said. For example, he has stopped short of firing the Fed's Powell. 'This fits a broader pattern of the administration applying maximum pressure to get its way on issues from deportations to federal layoffs, without openly defying the courts,' Capital Economics wrote. Lots of people compile the jobs report The jobs report is like a massive puzzle put together by hundreds of employees and the pieces need to fit. If the final numbers were fudged, employees who worked on inputs to those numbers would realize that and speak up, Hall said. 'All of the data, detail and all of the industry statistics need to add up,' he said. The underlying jobs data BLS is famously transparent and provides the underlying data behind all its jobs numbers, Estep said. For example, the unemployment rate is based on a survey of 60,000 households, and the agency has their individual responses, she said. At the same time, here's why some experts are still worried: Private jobs data relies on federal numbers Although ADP and other private firms provide jobs data, they're typically 'benchmarked to the federal data, as private sector data are very rarely nationally representative,' Feroli said. ADP, for instance, relies on the federal jobs report from two months earlier to estimate last month's numbers. The risk of political meddling In the Meet the Press interview, Hassett told Welker, "The president wants his own people there [at BLS] so that when we see the numbers, they're more transparent and more reliable.' Said Estep: 'I would keep an eye out' for the potential replacement of some longterm public servants with political appointees at BLS and other agencies. 'Are they somehow installing more plans for the politicization of these statistical agencies?' Estep asked. The data may be accurate, but is it trustworthy? Even if it's unlikely the data will be manipulated, 'it may be less trusted,' Estep said, noting that could affect markets and the behavior of companies and consumers. "The trust component, that's really scary." In an opinion piece posted on David Madland, senior fellow at the Center for American progress, wrote: 'Government data analysts will do their best to produce credible reports, and much of what they publish will be accurate, but these workers will be increasingly subject to political pressures, or outright meddling. 'Reputational damage has already been done - and the decline in trust carries real consequences.'
Yahoo
6 days ago
- Business
- Yahoo
US labour data agency was teetering even before Donald Trump fired its chief
Donald Trump's firing of the head of the Bureau of Labor Statistics has exposed deepening fissures within a data agency vital to measuring 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
Business Insider
7 days ago
- Business
- Business Insider
Trump doubles down on his decision to fire BLS chief after disappointing jobs report
President Donald Trump isn't backing down from his controversial firing of the head of the Bureau of Labor Statistics after a disappointing jobs report. "It is antiquated, but it is also very political," Trump said about the position Tuesday morning on CNBC's "Squawk Box." Co-host Joe Kernen tried to convince Trump that firing Dr. Erika McEntarfer after a disappointing jobs report could "undermine confidence" in future reports, given the context of McEntarfer's ouster. The monthly jobs report is considered one of the most important measures of the US economy. Trump was unconvinced. "So, look, it is a highly political situation. It is totally rigged. Smart people know it. People with common sense know it, and a lot of people like to keep their heads under the covers," Trump said. In explaining his decision to fire McEntarfer, who was originally appointed by President Joe Biden and received broad bipartisan support during her Senate confirmation, Trump has reupped his previous complaints about BLS data. The president has presented no evidence showing that the data was "rigged" against him. William Beach, a former Commissioner of Labor Statistics during Trump's first term, has been a vocal critic of Trump's decision. Beach, who now works as an economist, has said that commissioners have little actual sway over the jobs numbers, which are already finished before they reach their desks. "The totally groundless firing of Dr. Erika McEntarfer, my successor as Commissioner of Labor Statistics at BLS, sets a dangerous precedent and undermines the statistical mission of the Bureau," Beach wrote on X on Friday. Kevin Hassett, Trump's National Economic Council director, has defended Trump's move. Hassett said the BLS needed "a fresh set of eyes." "There have been a bunch of patterns that could make people wonder," Hassett said Sunday on "Meet the Press." And I think the most important thing for people to know is that it's the president's highest priority that the data be trusted and that people get to the bottom of why these revisions are so unreliable." Part of the reason that the BLS has issued significant revisions in recent years is that the response rates to its surveys continue to decline. Trump also discussed his plans to replace Fed Chairman Jerome Powell, whose term leading the central bank ends next year. Trump said that he is looking closely "both Kevins," a reference to former Fed Gov. Kevin Warsh and Hassett. "He's very good," Trump said of Warsh, when asked if he had watched Warsh's recent CNBC appearance. When pressed, Trump said he would choose between one of four people: "The two Kevins are doing well, and two other people are doing well." It's unclear who the other two people are. Trump did appear to rule out Treasury Secretary Scott Bessent, whose name has been reported as a potential Powell replacement. "He does not want it," Trump said. "He likes being Treasury Secretary. He's doing a really great job."
