Moynihan responds to Trump, dismissing labor statistics, inscription on weak jobs

Bank of America CEO Brian Monihan In an interview on Sunday on Sunday, the dismissal of the President of the Labor Statistics Bureau after a report on weak jobs is due to the policy, although he said that government employment data should be improved.

Moynihan appeared on CBS News’ “Face the Nation with Margaret Brennan” and was asked if he was concerned about the president, dismissing the Commissioner of the Bureau of Labor Statistics (BLS) and whether he thinks there is political pressure.

“Well, I think this is more policy,” Monuyan said, adding that he believes that in recent years the process of collecting data from the Agency has observed more levels of answers that have contributed to the revisions of Monthly job reportS

“This is 2025 and the data should be able to be – they use studies and similar things that, honestly, are simply not as effective. So if you look at the degree of people who respond to their studies, it is from 60% to 50%,” he explained.

Trump orders the termination of labor statistics official after jobs and revisions down

Monihan said Bank of America He does not use studies to evaluate the data market data and instead relies on his data to judge what business and users are doing.

“We are watching what users are doing. We watch what the business is doing. They can get this information, I think, other ways, and I think it has to focus there,” Monihan told BLS.

“How do we get the data to be more durable and pre -predictive and more understandable? Because what bounces around is the restorations and this was one of the largest restarts, going back five or seven years in the pandemic, five years in the pandemic, which creates doubt about it,” he added.

“And so I think the key is, let’s get it – let’s spend some money. Let’s unite the information. Let’s find where else in government money is reported. We report millions and millions of data points every day.

US growth in the US has cooled in July against the background of increasing economic uncertainty

BLS reported its July report on Friday, which showed that the US economy added 73,000 jobs last month – well below the profit of 110,000 jobs estimated by LSEG economists.

The agency also reported what it calls “greater than the normal” set of revisions down In order to win jobs in the previous two months, with May’s profit from 144,000 jobs being redistributed by 125,000 to only 19,000 jobs, while the profit of June from 147,000 jobs was revised by 133,000 to 14,000.

These two revisions left the levels of employment in May and June with 258,000 smaller jobs than reported earlier. Goldman Sachs Economists noted that this is the largest two-month revision for May and June 1968. Outside of recessions based on the assumption that The The US is not in a recession at the momentS

President Donald Trump He took to his social platform for the truth to announce that he has directed his administration to fire BLS Commissioner Erika Mackerterfer, accusing her of manipulating the figures of jobs for political purposes.

The White House economist supports Trump to fire the head of labor statistics, hits a “guerrilla model” in jobs: “Propaganda”

“I was just informed that the” job numbers “of our country were manufactured by an appointed by Biden, Dr. Eric Mackerter, Commissioner for Labor Statistics, which falsifies jobs before the election to try to enhance the chances of the Kamala on the win,” Trump writes. ” 2024 with approximately 818,000 and again, just before the 2024 presidential election, in August and September, to 112,000. These were records – no one could be so wrong? “

“We need accurate jobs. “Important numbers like this should be honest and accurate, they cannot be manipulated for political purposes. Mcencerfer said that only 73,000 jobs (shock!) Have been added, but more importantly, major mistakes were made in the first part of the year, always from the negative ones.”

Trump calls the dismissed BLS Commissioner number for “the biggest mistakes of over 50”

MCentarfer was confirmed by the Senate as a BLS commissioner in January 2024 at a broad bilateral vote of 86-8. Current Vice President and then Saint. JD VANCER-Ohio, was one of the senators who voted to support her confirmation.

Trump said in comments over the weekend that his administration would “announce a New statistician Somewhere in the next 3, 4 days, “adding that” we had no confidence, the numbers were ridiculous, that she declared “and that” this is a fraud, in my opinion. “

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The President on Monday continued to claim that the job report had been manipulated by writing about Truth Social:

“The Job’s report last week was forged, just as the numbers before the presidential election were arranged. Therefore, in both cases there were massive revision revisions, in favor of radical left -wing democrats. These great adjustments were made to conceal and equalize that the fake political numbers that were adapted.