Good morning I never liked how the United States measured unemployment. The official unemployment rate does not contain the number of people who have given up in search of work or are in low -paid jobs that do not meet their skills and efforts. It does not cover the difference between long -term and short -term employment, contract or full -time jobs. Economists of the US Bureau of Labor Statistics (BLS) understand that frustration publish a number of measures to record the nuance of Labor Underutilization.
President Trump agrees that the number does not reflect the reality of unemployment, although last week he made a completely different conclusion to decide that the numbers were “false” and “manipulated” in order to underrial the robustness of the labor market. He was so angry with the July job report, which on unemployment up to 4.2%showed that he decided that he decided Fire BLS Commissioner Erika Mcentarfer on Friday.
I immediately thought of the reaction, as the former General Electric CEO Jack which tweeted His contempt for the job numbers In October 2012 in October 2012, the lifelong republican was skeptical in October 2012 that the unemployment rate had fallen below 8% for the first time in four years, an election. He tweeted: “Incredible jobs.
What had been withdrawn from General Electric for more than a decade and had many opinions as a columnist for Assets. Nevertheless, there was outrage that a guide of his stature attacked the integrity of a vital impartial government agency and the integrity of the United States himself by suggesting that the core data were politicized. What End the Assets Appearance In the middle of the turmoil over the tweet.
But he did not withdraw from his claim. “I am not the first person to question government numbers, and hopefully I won’t be the last one” wrote in A Wall Street Journal OP-ED. He compared the setback with which he was faced with Soviet Russia and the communist China. What, a man who claimed to shorten the lower 10% of the Belecforce from GE every year did not do: they demand that the BLS commissioner will be released.
Contact the CEO every day via Diane Brady diane.brady@fortune.com
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When Rupert Murdoch dies …
President Trump’s defamation against Wall Street Journal claims that Murdoch, 94, is so old that he may not put it on trial. Assets look What happens to the Murdoch family when the patriarch is over and discovers that his company is structured in a way that almost guarantees conflicts.
Trump continues false claims about the BLS
The president yesterday Set on his tirade Against Erika McECentarfer, the former head of the Bureau of Labor Statistics, which he released on Friday. He called the BLS jobs “fraud”. He provided no evidence that the numbers are manipulated and in fact no serious person believes that the job number is manipulated. In realityThe numbers are regularly scanned, estimated and revised. This is how statistics work!
New Fed Governor and BLS -Chefefan closure
The president is expected To appoint a new BLS boss this week and to fill a job in the Fed Governor Board of Governors in the coming days. What you should pay attention to: whether his nominated are credible or not harmful. Under The possible candidates are Kevin Hassett, currently director of the National Economic Council of the White House, Kevin Warsh from Stanford’s Hoover Institution and US Finance Minister Scott Bessent, says the FT.
Trump envoy is looking for a comprehensive gaza strip
The Messenger of the White House Steve Witkoff met with the families From Israeli hostages that were held by Hamas and were informed that Trump was looking for a complete end of the Gaza conflict with all the returned hostages, and not for a piece of deal. “Hamas said it was ready to demilitarize. But even beyond, several Arab governments demand that Hamas demilitarize. So we are very, very close to a solution in this war,” said Witkoff. Hamas said it would only disarm if it had her own state with Jerusalem as the capital. This scenario is extremely unlikely for Israel. Now the Hamas Published a video A emaciated hostage that was forced to dig his own grave.
China suffocates the rare earth supply of the US military
China controlled 90% of the range of rare minerals and prices have gone through the roof. Some elements are now between five and 60 -higher than the standard price, reports the WSJ. The scarcity of the US military is perceived by the US military. Manufacturers need the minerals for drones, fighter planes, microelectronics, night vision glasses, rocket stargeting systems and satellites. The WSJ reports.
Moody’s Economist warns of a recession
Mark Zandi, chief economist from Moody’s Analytics, wrote over the weekend in a series of X -Post Quote A bad job report, low consumer expenses and increasing inflation. Zandi then accused tariffs and a “very restrictive immigration policy” for the economic downturn.
Boeing’s bet on the future
A conflict with the company’s union and numerous security scandals has had a significant impact on Boeing’s end result and reputation in recent years. Assets‘S Shawn Tully Outline How the aircraft manufacturer relies on its 39-year-old head of product development for commercial aircraft to stage a turnaround.
Lara Trump is broadcast by Epstein discussion
The daughter-in-law and former co-chair of the Republican interviewed radio presenter Charlamagne Tha Gott on SundayAnd her guest argued that “traditional conservatives will recapture the Republican party” because they are so angry that the White House refuses to publish all files on Jeffrey Epstein. Trump was not happy to hear that. He called Charlamagne a “racist Sleastebag” and “a low IQ person, has no idea what words come out of his mouth, and I don’t know anything about me or what I did”, ” About the truth social.
The markets
S&P 500 Futures Premarket had risen by 0.7% this morning after the index was closed by 1.6% on Friday. Stoxx Europa 600 had increased by 0.64% in early trade. The Great Britain FTSE 100 had increased by 0.49% in early trade. Japan Nikkei 225 had dropped by 1.25%. China CSI 300 had increased by 0.39%. The South Korea Kospi had increased by 0.91%. India Nifty 50 had increased by 0.6%. Bitcoin remains over 114,000 US dollars.
From the analysts
On the Fed: “The Soft Jobs Report on Friday came up with the filling from the dollar rally. Investors are now directing 80% of a reduction in the Federal Reserve by 25 BP in September,” according to Chris Turner et al.
Goldman Sachs about interest rates: “The Hawkish of the US market took the FOMC press conference into the background on Wednesday after a clearer path to cuts opened on Friday,” according to George Cole et al.
Goldman Sachs via the US BIP: “We expect GDP to grow by 1% over the course of the year in 2025 q3 and 2025 Q4, whereby approximately flat domestic final sales and disclosures by narrowing the trade deficit and the recovery of the existing accumulation” according to Hatzius et al.
JPmorgan on company income: “65% of the S&P 500 companies that were reported, the season was better than expected. 77% of companies beat 2Q income (compared to 73%. Lakos-Bujas et al.
To the watercolor seal
In the past 12 months, North Korean IT workers have exploded 220%, with Genai being armed in every phase of the setting process From amanda rut
Sheryl Sandberg, Bill Gates and the worldwide leading CEOs swear by the same daily habit – this career coach says that Z can easily steal it for success By Orianna Rosa Royle
A vacant position of the Fed opens early when Trump asks Board to take control if Powell does not lower interest rates By Marco Quiroz-Gutierrez
The surprise winner of Figma IPO is a charity with 13 million shares – and a famous background story that triggered a bitter feud over oil assets decades ago By Allie Garfinkle
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