Bloomberg Talks US Labor Secretary Talks ‘Positive’ July Jobs Report
Aug 1, 2025
Lori Chavez-DeRemer, the US Labor Secretary, dives into the July jobs report revealing only 73,000 new jobs added—far from optimistic. She discusses the potential impacts of trade policies on employment and advocates for lower interest rates to boost business investments. The conversation shifts to the manufacturing sector, addressing recent job losses and the government's strategies to revive it through innovative trade deals and workforce training initiatives. Chavez-DeRemer emphasizes how deregulation could foster consumer confidence and job creation.
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Jobs Growth Despite Challenges
- Despite July job growth being below estimates, the US economy added a net positive of nearly half a million jobs since the president took office.
- Key job gains appeared in health care and construction, driven by new trade deals and investment confidence among American businesses.
50-State Tour Reveals Business Confidence
- Lori Chavez-DeRemer shared insights from her 50-state tour hearing business owners express renewed confidence after the passing of one big, beautiful bill.
- Business owners now perceive more certainty, leading to increased investment and employment in the American workforce.
Advocate for Lower Interest Rates
- Businesses feel ready to invest and borrow more but remain concerned about high interest rates.
- Encourage the Federal Reserve to lower rates to support borrowing and economic growth alongside trade and tariff policies.