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Government Statistics: Trump fires labor statistics chief after weaker than expected jobs report
@Old_Joe. By the time supporters of the regime understood the ten ways they are getting hosed it will be too late to do anything about it. This regime will outlive its founder. The institutions that made the American experiment sorta succeed will all be destroyed. But hey,,,, as one poster who will remain nameless would say,,,, the market is making ME lots of money.
JPMorgan and Bank of America stocks drop as Trump warns of payback for ‘bad’ treatment Trump confirms plans for an executive order to punish banks for what he said was discrimination against conservatives. Meanwhile, banks praise efforts to overhaul regulations.
Do we really have to deal with another 3.4 years of this? Its disgusting.
I watch the money flow since February and they are pivoting away from the US. It would be a mess when the big treasury holders are selling their holding.
Is the sky falling? No. But things are very cloudy.
Thanks @sma3. The CPI data will release next week.
The CPI for July is expected to have climbed 2.8% on an annual basis, according to a Reuters poll of economists. Investors will be watching to see if Trump's tariffs on imports are translating into higher prices after the June CPI report suggested levies were impacting the prices of some goods.
How would Trump react to this now? In the meantime, I still see grocery bills including eggs are rising.
He'll find a way to blame Biden, Democrats, other nations, and/or the Abominable Snowman. Anything but him and/or his 'stable-jenius' policies. (Remember, his name is Donald 'J' Trump ... the 'J' stands for JENIUS.)
President Donald J. Trump’s firing of the commissioner of labor statistics ... for announcing that job growth has slowed dramatically
It turns out that he was right. After the firing Trump got what he wanted - another June job growth revision. The number of jobs did not grow slowly in June after all.
For the first time since, well, since the last full month Trump 45 was in the Oval Office (December 2020), the number of jobs shrank.
(TBH they had a technical hiccup at the data release. Economic hack Lutnick right away blamed 'the predecessor' at BLS for the problem, despite there not being many (any?) technical issues under the prior leadership.)
I'm near positive that Lutnick et.al. will be saying that throughout their entire term at the helm. They should have the Doge boys get after this dontcha think?
Yeah. I thought about pointing out that Biden never had a month where the number of jobs dropped. But it wouldn't be fair to mention that without giving Trump some credit.
Trump handed Biden an economy with so few people working (Trump being first president since Hoover to lose jobs on his watch) that Biden's employment numbers had nowhere to go but up.
(Actually job growth merely caught up with its pre-Covid trajectory that started with Obama.)
Labor number released today does not bode confident that the economy is bursting at the seam. Actually, it is contracting for several consecutive months.
Stagnation: The data underscores the extent to which consumers and businesses are struggling to accommodate the weight of tariffs, stubborn inflation, the decline in America’s crucial immigrant workforce and overall economic uncertainty.
Right, and the previous head of BLS got sacked. Makes as much sense as 2+2=fish. Now the Orange suck-ups will make excuses, time and time again. Lutnick's face make me want to retch.
Comments
Trump confirms plans for an executive order to punish banks for what he said was discrimination against conservatives. Meanwhile, banks praise efforts to overhaul regulations.
Do we really have to deal with another 3.4 years of this? Its disgusting.
The data integrity question will also impact inflation-linked debt, too (Eg TIPS)
BBG: https://archive.ph/af3bT
https://tipswatch.com/2025/08/10/tips-investors-face-a-sky-is-falling-moment/
Thanks!
How would Trump react to this now? In the meantime, I still see grocery bills including eggs are rising.
https://www.cnbc.com/2025/08/11/trump-antoni-bls-statistics.html
https://www.wsj.com/economy/the-u-s-marches-toward-state-capitalism-with-american-characteristics-f75cafa8?st=W3PjfB&reflink=desktopwebshare_permalink
It turns out that he was right. After the firing Trump got what he wanted - another June job growth revision. The number of jobs did not grow slowly in June after all.
For the first time since, well, since the last full month Trump 45 was in the Oval Office (December 2020), the number of jobs shrank.
/ducks
(TBH they had a technical hiccup at the data release. Economic hack Lutnick right away blamed 'the predecessor' at BLS for the problem, despite there not being many (any?) technical issues under the prior leadership.)
Yeah. I thought about pointing out that Biden never had a month where the number of jobs dropped. But it wouldn't be fair to mention that without giving Trump some credit.
Trump handed Biden an economy with so few people working (Trump being first president since Hoover to lose jobs on his watch) that Biden's employment numbers had nowhere to go but up.
(Actually job growth merely caught up with its pre-Covid trajectory that started with Obama.)