It's a ploy by Trump Admin

Posted on: July 2, 2025 at 13:38:59 CT

Biden inflated job numbers. Trump may be deflating them to get Powell to lower interest rates.

Also (from market watch):

The jobs report is actually two reports in one — and it’s important to know the difference.

The headline increase in employment each month is drawn from a large monthly survey of businesses, nonprofits and government agencies.

In theory, the results each month could be off by 100,000 either way, due to so-called margin of error inherent in every poll.

Yet the business survey tells us nothing about who is looking for work, what industry they work in and whether they even have a job right now.

For that information, we turn to an even larger survey of households. It’s from this survey that the government determines the unemployment rate.

The household survey has another notable feature: It captures everyone who is working in the U.S. economy, including legal and unauthorized immigrants.

If the immigration crackdown reduces the pool of potential U.S. workers, it will show up in the household survey first.

https://www.npr.org/2024/08/21/nx-s1-5084178/us-fewer-jobs-biden-initially-reported