Overview

• President Trump accused BLS Director Erica McEntarfer of politically manipulating July’s employment figures and directed her immediate removal without presenting evidence
• Labor Secretary Chavez de LeMare publicly endorsed Trump’s move and appointed the bureau’s deputy commissioner as acting director while a permanent successor is identified
• The BLS reported a 73,000 increase in July nonfarm payrolls against forecasts of 108,000 and revised May and June figures downward by a combined 258,000 jobs
• U.S. stock markets reacted sharply, with the Dow Jones Industrial Average plunging over 700 points on renewed concerns about tariff impacts and slowing economic growth
• Economists including Nobel laureate Paul Krugman condemned the dismissal as unwarranted political interference that threatens the independence of federal economic statistics