President Donald Trump fired Erika McEntarfer, head of the Bureau of Labor Statistics (BLS), after July’s jobs report showed just 73,000 new jobs, far below expectations.
The BLS also revised May and June figures downward by a combined 258,000 jobs, marking the steepest two-month cut since April 2020.
In a Truth Social post, Trump accused McEntarfer — a Biden appointee — of manipulating data to favor Vice President Kamala Harris’s election prospects. He called for “accurate Jobs Numbers” and pledged to appoint someone “more competent and qualified”.
Market Reaction:
The weak report triggered a 500-point drop in the Dow and a 2% slide in the Nasdaq, reflecting investor anxiety over economic momentum.
Political Fallout:
- Critics warn the firing could undermine trust in federal economic data.
- Economists stress that BLS revisions are routine and based on updated inputs, not political bias.
- Some Republican lawmakers expressed concern, saying “statistics are what they are”.
(source politico.com)
—Agencies
Leave a Reply