Fed Chair Warns Trump Admin May Be Seriously Exaggerating Jobs Numbers
a day ago
- #employment
- #economy
- #government
- Fed Chair Jerome Powell warns that the Trump administration may be exaggerating job numbers.
- Fed staff estimate the government could be overestimating job creation by 60,000 per month.
- Actual job growth might be negative (-20,000/month) instead of the reported 40,000/month.
- The Bureau of Labor Statistics (BLS) uses statistical models that sometimes overstate job creation.
- The Trump administration has previously reacted poorly to negative jobs reports, blaming Democrats and firing the BLS chief.
- Concerns exist that political pressure could influence BLS to report inflated job numbers.