After six months of haranguing the Federal Reserve to slash the federal funds rate despite a persistently strong economy, President Donald Trump finally got a data point proving his case that the labor market is likely softening. The Bureau of Labor Statistics announced in its July jobs report that, despite the economy adding a net 73,000 jobs, major revisions to its May and June figures showed a quarter-million fewer new positions in those months than the agency originally reported.

Trump promptly fired Erika McEntarfer, former BLS commissioner, and subsequently accused the BLS of repeatedly publishing “RIGGED” and “record-setting revisions” to benefit Democrats before and after his 2024 victory.

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