{"id":143542,"date":"2025-08-13T22:55:37","date_gmt":"2025-08-13T22:55:37","guid":{"rendered":"https:\/\/www.europesays.com\/us\/143542\/"},"modified":"2025-08-13T22:55:37","modified_gmt":"2025-08-13T22:55:37","slug":"us-jobs-stats-are-so-weak-trump-claims-they-were-rigged-but-the-jobs-slump-could-bring-interest-rates-down","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/143542\/","title":{"rendered":"US jobs stats are so weak Trump claims they were ‘rigged’ \u2014 but the jobs slump could bring interest rates down"},"content":{"rendered":"\n

A recent report from the U.S. Bureau of Labor Statistics<\/a> painted a dreary picture of the job market.<\/p>\n

The report showed that the economy added a relatively meager 73,000 new jobs in July. But the standout feature of the report was an adjustment to the previous two months of jobs, which was lower than previously reported by more than 200,000 jobs.<\/p>\n

After the jobs report came out with low numbers, President Donald Trump directed his team to fire Erika McEntarfer, the BLS commissioner.<\/p>\n

In a post on Truth Social,<\/a> he claimed that McEntarfer was a \u2018Biden appointee\u2019 who possibly manipulated the numbers.<\/p>\n

The July jobs report showed a smaller-than-hoped-for number of non-farm payroll jobs were added to the U.S. economy during the month. The July numbers posed a setback for the administration. But the real blow is that the report corrected a previous estimate of jobs created in June and May, with an adjustment downwards of 258,000.<\/p>\n

The major adjustment to previous job estimates paints a significantly different picture of the economy. While revisions to previous months\u2019 job estimates are common, this downward correction was larger than normal. And fewer jobs means a bleaker picture, which the President vehemently denied.<\/p>\n

In a Truth Social post, he wrote, \u201cThe Economy is BOOMING under \u201cTRUMP\u201d despite a Fed that also plays games.\u201d<\/p>\n

Beyond the backlash against the numbers in the job report, the President took action against the BLS Commissioner by firing her.<\/p>\n

He wrote in a Truth Social post, \u201cWe 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. Important numbers like this must be fair and accurate, they can\u2019t be manipulated for political purposes.\u201d<\/p>\n

While some have praised the move, others see it as a politically motivated overreaction.<\/p>\n

In an interview with NBC News<\/a>, Max Stier, CEO of the Partnership for Public Service, said, \u201cPresident Trump is once again destroying the credibility of our government by firing expert and nonpartisan officials because he does not like the facts that they present.”<\/p>\n

Story Continues <\/p>\n

Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.<\/a><\/strong><\/p>\n

Regardless of the firing drama, the jobs report remains unchanged. Since it\u2019s common for number adjustments to be made in future reports, the job estimates may change. But for now, the unemployment rate sits at 4.2%.<\/p>\n

Various sectors of the economy have seen different prospects. For example, the healthcare and social assistance industries seem to be growing based on the job numbers. Manufacturing and construction didn\u2019t see too much change in employment. And government employment continued to fall.<\/p>\n

The relatively low number of new jobs is raising alarm bells for some. But it\u2019s unclear whether or not Federal Reserve Chairman Jerome Powell will finally make the interest rate cuts that Trump has been angling for in recent months.<\/p>\n

In the same post that he announced the BLS commissioner\u2019s firing, he said, \u201cJerome ‘Too Late’ Powell should also be put ‘out to pasture.\u2019\u201d<\/p>\n

For now, it seems that Powell isn\u2019t convinced that rate cuts are the answer because the Fed is still working to control inflation and is uncertain about the coming impacts of tariffs on the economy.<\/p>\n

In a recent conversation with reporters<\/a>, Powell said, \u201cIf you move too soon, you wind up maybe not getting inflation all the way fixed and you have to come back. That’s inefficient. If you move too late, you might do unnecessary damage to the labor market.\u201d<\/p>\n

After this rather noncommittal position, it’s unclear if rate cuts are on the horizon. But investors seem to think rate cuts are coming, with market expectations shifting toward a rate cut.<\/p>\n

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.<\/p>\n","protected":false},"excerpt":{"rendered":"A recent report from the U.S. Bureau of Labor Statistics painted a dreary picture of the job market.…\n","protected":false},"author":3,"featured_media":143543,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,79,73367,142,50846,85222,5005,9593,5200,67,132,68],"class_list":{"0":"post-143542","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-erika-mcentarfer","11":"tag-jerome-powell","12":"tag-jobs-report","13":"tag-payroll-jobs","14":"tag-president-donald-trump","15":"tag-robert-kiyosaki","16":"tag-truth-social","17":"tag-united-states","18":"tag-unitedstates","19":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115023926165070270","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/143542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=143542"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/143542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/143543"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=143542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=143542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=143542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}