US President Donald Trump asked for a dismissal of a statistics on Friday after the publication of employment figures showing a clear degradation of working market conditions in recent months.
“I have just learned that the + figures of employment + of our country are made by a person appointed by Joe Biden, Dr. Erika MCENTARFER, (…) who faked employment figures before the election to increase the chances of victory of Kamala” (Harris, his rival in the last presidential election), said the head of state on his social social platform.
“I asked my team to send this person (…), impetuating it will be replaced by someone much more competent and qualified,” he added.
In a second message, Donald Trump denounced figures, according to him, “stuffed to give a bad image of the Republicans and myself”.
Friday morning, the monthly report on employment in the United States surprised by painting a darker table than expected from the state of the labor market, at a time when experts predict a slowdown under the effect of the customs offensive of Donald Trump.
The first world economy created 73,000 jobs in July, according to the document published by the Ministry of Labor.
Above all, the number of jobs supposed to have been created during the months of May and June was strongly revised downwards. The corrected figures (19,000 in May and 14,000 in June) are displayed at the lowest since the Pandemic of COVID-19.
The corrections are “much superior to normal”, it is noted in the report. 258,000 job creations have evaporated statistics over these two months.
The unemployment rate increased slightly to 4.2%, compared to 4.1% in June.
– Dissensions to the Fed –
The American president attacks statistics to “hide the American people the truth about the failure of their policies,” said Virginia (East) Mark Warner.
The American executive continues to assert that the economy is roaring, while insistently calling the Central Bank of the United States (Fed), to support it more by reducing interest rates.
Earlier in the week, the federal reserve still preferred to leave its rates unchanged for the fifth time in a row, in as many meetings since the return to power of Donald Trump.
The decision was marked by the rare opposition of two governors, who pleaded for rate decreases to support activity and the labor market.
A drop in rates would have “preventive protected” the economy and the labor market, argued on Friday in a statement the governor of the central bank Michelle Bowman. His colleague Christopher Waller considers that the wait -and -see approach to the Fed is “excessively cautious”.
The day was also marked by the announcement of the resignation, a few months before the end of her mandate, another governor, Adriana Kugler, leaving the field free to Donald Trump to designate his successor.
– New deal –
Analysts were surprised by the magnitude of the corrections in the employment report, without questioning the reality of the new figures.
This report “changes the situation” by showing that “the labor market is deteriorating rapidly”, according to the economist of the Bank Navy Federal Credit Union, Heather Long.
The United States has “created only 35,000 jobs on average in the last three months,” she said, adding that the Federal Reserve should “seriously consider a drop in rates in September” to support the economy.
Investor projections on the future level of the central bank’s guiding rates immediately changed after the report was published. There are more many of them betting on a drop at the September meeting, which lowered the borrowing rates of the federal state and the dollar.
According to Jamie Cox, of the Harris Financial group, the president of FED Jerome “Powell will regret having left the rates unchanged this week”. The Fed, he adds, “will have to lower the rates in September and it could be half a point at once to make up for lost time”.
Posted on August 1 at 10:36 p.m., AFP
