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2025-08-02 08:09:38
Did July's non-farm payroll data trigger a "seismic shift"? Trump fires Labor Department chief, potentially shifting market sentiment. ⑴ US President Trump ordered the dismissal of the director of the U.S. Bureau of Labor Statistics, citing weaker-than-expected July employment data. ⑵ Data showed only 73,000 new jobs added in July. ⑶ Meanwhile, employment data for May and June were significantly revised downward, resulting in a combined decrease of 258,000 jobs compared to previously reported figures. ⑷ Economists attribute the significant slowdown in job growth to the Trump administration's trade and immigration policies. ⑸ Uncertainty surrounding trade tariffs makes long-term planning difficult for businesses. ⑹ Trump accused the fired official of fabricating data, but he offered no evidence. ⑺ The Bureau of Labor Statistics is responsible for compiling the highly anticipated employment report and consumer and producer price data. ⑻ Trump also targeted the Federal Reserve Chairman, believing he should also be fired.
