As economic anxiety begins to bubble up again, former President Donald Trump is seizing the moment—and he’s got a specific target in his sights.
After a disappointing jobs report shook investor confidence, Trump took to Truth Social with a familiar tone: blame, fire, and replace.
A Disappointing Month for the U.S. Job Market
July’s jobs report landed with a thud. Instead of the expected 100,000 new hires, the economy added only 73,000 nonfarm jobs.
That shortfall wasn’t the only bad news—unemployment also ticked up to 4.2%. But what really rattled economists and investors alike were the revisions to earlier reports.
May and June’s numbers were quietly slashed by a combined 258,000 jobs.
When all’s said and done, May was left with just 19,000 new jobs and June barely scraped in with 14,000—almost stagnant.
Analysts are already predicting July’s numbers might get revised downward, too—maybe even into negative territory.
Trump Points Finger at Biden Appointee
Wasting no time, Trump zeroed in on Dr. Erika McEntarfer, the Biden-appointed Commissioner of Labor Statistics, accusing her of manipulating the numbers before the 2024 election to give Vice President Kamala Harris a political boost.
In a post on Truth Social, he wrote:
“We need accurate jobs numbers. I have directed my team to fire this Biden political appointee, IMMEDIATELY.
She will be replaced with someone much more competent and qualified.”
He didn’t mince words—Trump flatly accused her of “faking” data and called for her immediate dismissal.
Who Is Dr. Erika McEntarfer?
McEntarfer isn’t some newcomer to the world of labor statistics.
According to her LinkedIn bio, she’s held a variety of economist roles at the Census Bureau, the Treasury Department, and even served on the Council of Economic Advisors during the Biden administration.
Her published research dives deep into labor market trends and worker-firm dynamics—though, in true academic style, her bio is filled with technical economic jargon.
Revisions Are Normal—But Timing Raises Eyebrows
It’s worth noting that monthly jobs numbers are almost always revised as new payroll data filters in.
These revisions can go either way, and they’re not unusual in government reporting.
Still, the scale of the July revision, paired with the poor headline number, gave Trump the ammo he needed to suggest something more sinister was at play.
Markets React to Economic Shakiness
The report’s ripple effect hit Wall Street quickly.
Pre-market trading took a hit, with the S&P 500 falling around 1% and the Nasdaq slipping 1.1% before markets even opened.
Investors are now watching closely to see if these numbers signal a broader economic slowdown.
Could This Sway the Fed?
The Federal Reserve recently decided to keep interest rates unchanged, but with hiring down and unemployment creeping up, the central bank could now feel pressure to cut rates at its next meeting in September.
And Trump, as usual, didn’t hold back when it came to Fed Chair Jerome Powell.
He fired off another Truth Social post calling Powell “too late” and a “disaster,” writing:
“Too Little, Too Late. Jerome ‘Too Late’ Powell is a disaster. DROP THE RATE!”
Political Drama Meets Economic Policy
With the election cycle in full swing, Trump is once again blending economic concerns with political theater.
By calling out McEntarfer and Powell, he’s making clear who he believes should carry the blame—and who should be removed.
But with job growth slowing, revisions casting doubt on past successes, and investors getting jittery, it’s not just politics—it’s an economy on the edge of a confidence crisis.