Overview

• President Trump dismissed BLS Commissioner Erika McEntarfer after the agency revised May and June job gains down to 19,000 and 14,000, marking the weakest monthly growth since the COVID-19 pandemic.
• The Bureau of Labor Statistics reported only 106,000 new jobs added over the past three months, far below prior estimates and fueling concerns about a cooling labor market.
• Trump pledged to nominate a new chief statistician within three to four days, with the choice subject to confirmation by the Republican-controlled Senate.
• Economists caution that replacing the BLS leader for political reasons risks eroding the agency’s nonpartisan mandate and compromising the integrity of key economic indicators.
• Investors and market watchers fear that perceived politicization of U.S. employment data could undercut confidence in Federal Reserve policy and the country’s role in the global economy.