WSJ Opinion: Potomac Watch Trump Alleges ‘Rigged’ Jobs Data, as the Economy Wobbles
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Aug 4, 2025 Donald Trump lashes out after a disappointing jobs report, claiming the Bureau of Labor Statistics is rigging data. As hiring slows, long-term unemployment rises, raising questions about economic resilience. The podcast dives into the integrity of job statistics, exploring potential biases behind the numbers. Additionally, the discussion highlights how new tariffs are reshaping business strategies, with some companies reconsidering expansions due to these protectionist measures. The implications for international trade and legal challenges unfold amidst uncertainty.
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Labor Market Softening Evident
- The labor market is showing clear signs of softening with fewer jobs created outside healthcare and social assistance.
- Declining labor force participation and rising long-term unemployment underscore this slowdown.
Economy in a Giant Pause
- Economic activity is in a 'giant pause' with no layoffs but little hiring or investment.
- Uncertainty from tariffs and immigration issues creates instability, limiting business expansion.
Why Jobs Data Gets Revised
- BLS jobs data undergoes ongoing revisions due to sample bias, especially from underrepresented small businesses.
- Annual benchmarking adjusts data by comparing with administrative records, improving accuracy over time.