Moynihan responds to Trump firing labor stats chief over weak jobs data

Brian Moinhan, CEO of Bank of America, said in an interview on Sunday that the president’s shooting for the work statistics office after the public job report was due to politics, although government employment data must be improved.

Moinhan appeared in CBS News “faces the nation with Margaret Brennan” and asked whether he was concerned about the president who launches the Commissioner of the Blink Statistics Office (BLS) and whether he feels political pressure.

“Well, I think this policy is more,” Mounehan said.

“It is 2025 and the data should be able to be – they use investigative studies and such things, which, frankly, are no longer effective anymore. So if you look at the rate of people who respond to their investigative studies, they decrease from 60 % to 50 % level,” he said.

Trump orders the completion of the responsible work statistics after the report and the descending reviews

Moinhhan said that Bank of America does not use surveys to assess labor market data and instead depends on its data to measure companies and consumers.

“We are watching what consumers do. We see what companies do. They can get these data, I think, other ways and I think this is where the focus should be,” Mounehan said about BLS.

He added: “How do we make data more flexible, more predictable and more understandable? Because what is bounced around is reformulation, and that was one of the largest appointments, which dates back five or seven years in the epidemic, five years in the epidemic, which creates a doubt about it.”

“So I think the key is, let’s get – let’s spend some money. Let’s collect information together. Let’s find another place in the government.

Job growth in the United States was cooled in July, amid the increasing economic uncertainty

BLS reported on the Jobs Jobs report on Friday, which showed that the American economy added 73,000 jobs last month – much lower than 110,000 jobs estimated by Economists that LSEG hid.

The agency also reported what he called a “larger than usual” group of reviews to decline in jobs in the previous two months, as 144,000 jobs were revised by only 125,000 jobs to only 19,000 jobs, while June profit of 147,000 jobs was reviewed by 133,000 to 14,000.

These two auditors left employment levels in May and June with 258,000 jobs less than previously mentioned. Economists in Goldman Sachs indicated that it was the largest two -month review for May and June since 1968 outside the recession, based on the assumption that the United States is not currently stagnant.

President Donald Trump took over the social truth platform to announce that he ordered his administration to launch the BLS Commissioner Erika Minarker, accusing her of manipulating jobs for political purposes.

Economists lead economists at the White House, the head of work statistics, and strikes a “party pattern” in job data: “advertising”

Trump wrote: “I have just reported that” job numbers “in our country are produced by the appointed Biden, Dr. Erika Minarker, the work statistics commissioner, who has forced the numbers of jobs before the elections to try to enhance the Kamala opportunities in victory,” Trump wrote. “This is the same as the work statistics office that exceeded the growth of jobs in March 2024 by about 818,000, then again, before the presidential elections in 2024, in August and September, by 112000. These were records – no one could be a mistake?”

“We need accurate job numbers. My team has ordered the dismissal of this political appoinent, Biden, immediately. It will be replaced by a more efficient and qualified person,” Trump continued. “The important numbers of such such should be fair and accurate, and cannot be manipulated for political purposes.

President Donald Trump said his administration would nominate a new BLS delegate in the near future. ( / Getty Images)

Trump launched the Bls Commissioner’s work numbers, “The Great Misdementation in Over 50 years”

MCENTARFer was confirmed by the Senate as BLS Commissioner in January 2024 with a large-scale vote out of 86-8. The current vice president and then. JD Vance, R-OHIO, was among the Senate members who voted to support its confirmation.

Trump said in comments during the weekend that his administration “will announce a new statistic at some point over the past three or 4 days,” adding that “we had no confidence, the numbers were ridiculous that it announced that it is” a fraud, in my opinion. “

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On Monday, the President continued to claim that the job report was manipulated, and to write on the social truth:

“The job report has been formed in the past weeks, just like the numbers that preceded the presidential elections. For this reason, in both cases, there have been huge reviews, to take the measurement, in favor of the left -wing democrats.