Trump to Announce New Bureau of Labor Statistics Chief in the Next Three to Four Days
ChainCatcher reports that U.S. President Trump has announced he will name a new head of the Bureau of Labor Statistics within the next three to four days.
On Friday, Trump ordered the dismissal of the Bureau of Labor Statistics director (the agency responsible for releasing nonfarm payroll data) after he claimed, without evidence, that the disappointing employment figures had been "manipulated." The bureau later confirmed that Director Erika McEntarfer had been removed, and her deputy, William Wiatrowski, would serve as acting director. The July jobs report released earlier on Friday showed that only 73,000 jobs were added last month. The Bureau of Labor Statistics also announced significant data revisions, revealing that total employment was 258,000 lower than previously estimated. This marks the second-largest two-month downward revision on record, surpassed only by adjustments made during the pandemic.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Gram Is Only Bright Spot in Crypto Bloodbath, Durov Says
AI trading rebounds; storage chip and optical communication stocks rise broadly in U.S. pre-market, CoreWeave surges 17%, oil prices stabilize.
Before the US stock market opened, CoreWeave rose about 17% as its Q3 revenue exceeded expectations and the company raised its annual revenue guidance. Storage chip stocks generally increased, with SK Hynix up about 7% and SanDisk up about 7%. Optical communication stocks also rose, with Coherent up about 9%, Credo up about 8%, and Lumentum up about 8%. Futures for all three major US stock indexes were up: Nasdaq 100 index futures rose 1.6%, S&P 500 index futures rose 0.7%, and Dow Jones index futures rose 0.2%.
Fed repricing lifts US Dollar Index – Deutsche Bank
Crypto prices
More
