US EditionTrump Says He Doesn’t Trust the Jobs Data, but Wall Street and Economists Do
DISTRICT OF COLUMBIA, UNITED STATES, AUG 5 – Trump fired the Bureau of Labor Statistics director after large downward revisions to May and June job gains, but economists and investors continue to trust the data's reliability.
- President Donald Trump fired Erika McEntarfer, the Bureau of Labor Statistics commissioner, following the July jobs report showing weak hiring.
- The firing occurred after Trump accused the June jobs data of being manipulated to reflect poorly on him and fellow Republicans, focusing on downward revisions to May and June employment numbers.
- The revisions cut May job gains from 144,000 to 19,000 and June from 147,000 to 14,000, the largest outside recessions since 1967, following sweeping tariffs.
- Economists and Wall Street consider the job data reliable despite survey challenges from declining response rates and a 16% inflation-adjusted funding drop since 2009.
- Experts say these revisions reflect data collection issues post-COVID and advise thoughtful investment to meet future challenges amid a slowing economy.
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News & RecordWall Street, economists trust jobs data
WASHINGTON — The monthly jobs report is already closely watched on Wall Street and in Washington but it took on new importance after President Donald Trump on Friday fired the official who oversees it.
Wall Street, economists trust disputed federal jobs data
The monthly jobs report is already closely-watched on Wall Street and in Washington but has taken on a new importance after President Donald Trump on Friday fired the official who oversees it. Trump claimed that June’s employment figures were “RIGGED”…
Krugman Scolds Trump for Saying BLS Fudged Jobs Numbers ... He Did the EXACT Same Thing
Economic dunce-in-chief Paul Krugman knows as much about intellectual consistency as he does about the meaning of “transitory” inflation. His proverbial brain aneurysm to that effect was put on full display during the August 5 edition of PBS’s Amanpour & Company, which also airs on CNN International. Krugman went on a sanctimonious rant against President Donald Trump over his suggestion that the Bureau of Labor Statistics was rigging jobs numbe…
Trump might not trust the jobs data, but Wall Street and economists do
The monthly U.S. jobs report is already closely-watched on Wall Street and in Washington, but has taken on a new importance after President Donald Trump fired the official who oversees it. Here are some things to know about the jobs report.
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Bias Distribution
- 57% of the sources are Center
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