NBC Meet the Press Meet the Press NOW — September 5
Sep 5, 2025
Kevin Hassett, National Economic Council Director, dives into the latest August jobs report, revealing troubling trends with stagnant job growth and increasing unemployment. Peter Alexander, NBC's Chief White House Correspondent, shares insights on the White House's response to these economic concerns. Former President Donald Trump discusses his views on the rebranding of the Department of Defense, emphasizing a strategic shift. The conversation navigates complex economic implications and political ramifications that could shape the national landscape.
AI Snips
Chapters
Transcript
Episode notes
Jobs Number Discordant With Other Data
- Kevin Hassett says the August jobs miss is discordant with other strong indicators like industrial production and capital spending.
- He notes the BLS has seasonal August biases that historically revise August up by ~70,000 jobs.
3% GDP Undercuts Recession Claims
- Hassett rejects recession warnings and points to GDP growth around 3% as evidence the economy is strong.
- He argues current data don't show recession despite weak payroll numbers.
Manufacturing Job Losses vs Capital Spending
- Manufacturing jobs fell despite the administration touting tariffs and factory investment.
- Hassett says capital spending is surging and the jobs data should reconcile after benchmark revisions.