Trump To Fire BLS Commissioner After Poor Jobs Report

WASHINGTON, Aug. 1, 2025 — President Donald Trump announced today that is firing Erika McEntarfer, the Biden‑appointed Commissioner of the Bureau of Labor Statistics (BLS), following a disappointing jobs report for July that showed just 73,000 jobs added, significantly below expectations. In a social media post, Trump accused the BLS of politicizing data, and declared he will appoint someone “much more competent and qualified.”

What the Jobs Data Revealed

• The July jobs report showed weak growth and a downward revision of 258,000 jobs for May and June combined.
• The U.S. unemployment rate rose modestly to 4.2%.

As The Wall Street Journal reports:

The dollar sank, while Treasury yields dropped and the Dow industrials shed more than 1%. The VIX, a market-volatility index often dubbed a fear gauge, shot higher. After the report, investors ramped up bets that the Federal Reserve will now be more inclined to cut rates to support the economy.

On tariffs, trading partners, including Switzerland and Taiwan, said they would keep trying to negotiate with the White House. Switzerland faces a 39% tariff rate—higher than the 31% floated in April—while Taiwanese goods will be levied at a 20% rate.

The president hiked levies on Canadian goods that don’t comply with a North American trade agreement to 35%, starting today. Prime Minister Mark Carney said that he was disappointed and Canada had already moved to address concerns over fentanyl.

Countries that run small trade surpluses with the U.S. will largely get 15% duties, while those with deficits will have 10% tariffs. Trump gave Mexico more time to set a trade deal and avoid higher tariffs, extending current rates by 90 days.

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