US EditionTrump’s Labor Statistics Shakeup Sparks Anxiety over Future Economic Data
UNITED STATES, AUG 4 – Trump fired BLS Commissioner Erika McEntarfer after the bureau revised downward 2024 job growth by over 800,000, amid claims the data revisions damaged his political standing.
- Friday, Trump accused the BLS of a `scam` and said the jobs data “were RIGGED,” then dismissed Dr. Erika McEntarfer, the BLS commissioner.
- Following historically large adjustments, the July report included downward revisions of the final 2024 revision issued in February, which showed data was overestimated by 589,000 jobs.
- In June, the jobs total was revised down by 258,000 and May by 120,000, while the July report showed just 73,000 jobs created.
- Last week, Federal Reserve Chair Jerome Powell said the economy relies on strong data, and amid concerns over data integrity, trust in the BLS may be undermined.
- BLS has noted that recent revisions were neither historic nor evidence of corruption, despite Trump claiming a `scam`. Larger adjustments occurred in 2009, including a 902,000-job change.
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Reuters US Domestic News Summary
It will supply its strategic transport and communications network to Combat Service Support, Department of Defense (DoD) programmes, as well as additional U.S. government agencies. Bridgewater founder Ray Dalio urges Trump to reveal why he fired top labor official Investor Ray Dalio said on Monday he, too, would likely have fired the commissioner of the Bureau of Labor Statistics because he "believes the data is not good", but urged U.S. Preside…
Trump increases his control over economic data after firing the head of labor statistics
US President Donald Trump has two prime opportunities to intervene in the country’s economic policy: the appointments of the head of the Bureau of Labor Statistics, which compiles employment data, and the replacement for Federal Reserve Governor Adriana Kugler. The first, Erika McEntarfer, was abruptly fired on Friday due to poor employment data for July; the second resigned that same day.Seguir leyendo
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