The Bureau of Labor Statistics is releasing an employment report on Friday.
This report is important because it is the first since Donald Trump dismissed Bureau of Labor Statistics Commissioner Erika McEntarfer following major job revisions.
The Bureau of Labor Statistics will release its first jobs report on Friday, after President Trump dismissed its director in response to the disappointing July employment figures.
Economists predict that the labor market will continue to weaken in August. This could lead to further criticism and reprisals from Trump.
E.J. Antoni, Trump’s choice to head the Bureau of Labor Statistics criticized the Bureau of Labor Statistics for the release of data.
In an early August interview, he said to Fox News Digital: “When they don’t even know how many new jobs or lost are in our economy?” This is a serious issue that must be addressed immediately.
E.J. Antoni, an economist appointed by Donald Trump as the head of the Bureau of Labor Statistics suggested that the closely-watched monthly jobs report be suspended, arguing its flawed methodology, economic modelling and statistical assumptions.
Antoni, in an interview with Fox News Digital on August 4, ahead of the nomination announcement scheduled for Monday, criticized the data that underlies the monthly jobs report, claiming it was unreliable and often overstated. He warned the data would mislead key economic decision makers from Washington to Wall Street.
How can businesses plan, or the Fed conduct monetary policies when it doesn’t know how much work is being created or lost in the economy? “It’s a problem that must be addressed immediately”, Antoni said to Fox News Digital.
He said that until the problem is fixed, the BLS must stop publishing monthly reports and instead publish the more accurate quarterly data, which is less timely but still very accurate. “Major decisions makers from Wall Street to D.C. depend on these numbers. A lack of confidence in data can have far-reaching implications.”
Trump criticized the Bureau of Labor Statistics for its major revisions to the job statistics.
In August, Trump wrote, “In my view, today’s jobs numbers were rigged in order to make Republicans and ME look bad.”
I believe that today’s Jobs Numbers are rigged to make Republicans and ME look bad. Just as when the Republicans had three good days around the Presidential Election of 2024 and then those numbers were “taken” away on November 15, 2024 right after the Election when the Jobs Numbers have been massively revised DOWNWARDs, resulting in a correction for over 818,000 Jobs – A TOTAL SCAM. Jerome “Too Late Powell” is no better. The good news is that our country is doing great!
