Morning Wire Labor Market Stumbles & Trump Primes Subs | 8.4.25
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Aug 4, 2025 Recent U.S. job reports reveal just 73,000 jobs added, sparking anxieties about the labor market's health. The dismissal of the Labor Statistics commissioner ignites political controversy surrounding employment figures. Meanwhile, Donald Trump pressures Russia over Ukraine while monitoring international tensions with U.S. submarines. Sydney Sweeney's controversial ad campaigns incite cultural backlash, highlighting the turmoil in the fashion industry amid evolving social norms.
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Massive Job Report Revisions
- The Labor Department's initial jobs report was overestimated by 90% compared to revised data.
- This is one of the largest single-month revisions ever seen, revealing significant data volatility.
Trump Fires Labor Statistics Chief
- President Trump fired Erica McIntyre, head of the Bureau of Labor Statistics, over inaccurate jobs reports.
- Trump alleged the reports were rigged to harm his election chances.
Labor Market Shift Under Trump
- Job growth under Trump is fully among American-born workers, unlike Biden's term favoring foreign-born workers.
- Also, all job growth under Trump has occurred in the private sector with government jobs declining.