A unit subordinate stands connected a ladder connected the time of Republican statesmanlike nominee and erstwhile U.S. President Donald Trump's sojourn successful Potterville, Michigan, U.S., August 29, 2024.
Brian Snyder | Reuters
In August, aft the merchandise of the July jobs report — which drastically revised down erstwhile months' numbers — U.S. President Donald Trump accused past Bureau of Labor Statistics Commissioner Erika McEntarfer of manipulating data, and fired her.
Yesterday, the BLS announced that the U.S. system had added 911,000 less jobs than antecedently reported, for the twelvemonth preceding March 2025. "Downward revisions since the cutoff day successful that study suggest that the simplification successful payroll maturation has been really astir 1.2 cardinal for the past 16 months," wrote CNBC's Jeff Cox.
That's a large and scary number. Jamie Dimon, CEO of JPMorgan Chase — America's biggest slope — successful a absorption to the astir caller report, said "the system is weakening. Whether it's connected the mode to recession oregon conscionable weakening, I don't know."
Traders successful the futures marketplace present spot an accrued accidental of cuts — which could enactment jobs instauration — astatine each of the Fed's adjacent 3 meetings this year, according to the CME FedWatch tool. That's assuming no much Fed officials are fired, which could alteration the trajectory of monetary argumentation for the adjacent fewer years. Only they, and not the BLS commissioner, person the powerfulness to straight sway the U.S. labour marketplace connected specified a macroscopic level.
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Chinese and U.S. flags flutter adjacent The Bund, earlier U.S. commercialized delegation conscionable their Chinese counterparts for talks successful Shanghai, China July 30, 2019.
Aly Song | Reuters
Record stock of U.S. businesses divert China investments. Top choice: Southeast Asia
Nearly fractional of U.S. businesses person redirected planned China investments to different regions implicit the past twelvemonth — the highest connected grounds — the American Chamber of Commerce successful Shanghai said Wednesday.
As galore arsenic 47% of the respondents successful the survey, conducted from May 19 to June 20, said that they had diverted investments planned for China chiefly to Southeast Asia. The Indian subcontinent, which includes Bangladesh, was the second-most fashionable destination for redirected investments, portion the U.S. and Mexico were tied astatine the 3rd spot.
— Evelyn Cheng
English (US) ·