No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Tuesday, June 23, 2026
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Trump’s former jobs data chief decries firing of successor

by TheAdviserMagazine
11 months ago
in Business
Reading Time: 2 mins read
A A
Trump’s former jobs data chief decries firing of successor
Share on FacebookShare on TwitterShare on LInkedIn



President Donald Trump’s firing of the chief labor statistician was criticized by her predecessor, who called it an unfounded move that will undermine confidence in a key data set on the US economy. 

“This is damaging,” William Beach, whom Trump picked in his first term to head the Bureau of Labor Statistics, said on CNN’s State of the Union on Sunday.

Trump on Friday fired Erika McEntarfer hours after labor market data showed weak jobs growth based in part on steep downward revisions for May and June. The move by Trump, who claimed the latest monthly report was “phony,” prompted an outcry from economists and lawmakers.

“I don’t know that there’s any grounds at all for this firing,” said Beach, whom McEntarfer replaced in January 2024. “And it really hurts the statistical system. It undermines credibility in BLS.”

Studies indicate that the agency’s data is more accurate than 20 or 30 years ago, including any revisions of the initial data, Beach said. Even so, he said he’ll trust future BLS data because people working for the agency are “some of the most loyal Americans you can imagine,” making the bureau “the finest statistical agency in the entire world.”

Bank of America CEO Brian Moynihan, speaking Sunday on CBS’s Face the Nation, urged the US government to improve its data collection to avoid revisions that engender distrust.

“We watch what consumers really do. We watch what businesses really do,” Moynihan said, while not addressing the politics of the firing. “They can get this data, I think, other ways, and I think that’s where the focus would be.”

He noted the revision for May and June data, while not unusual, was one of the largest in seven years. “That creates doubt around it,” he said. “Let’s spend some money. Let’s bring the information together. Let’s find where else in the government money is reported.” 

McEntarfer was confirmed by the Senate in a bipartisan 86-8 vote. Vice President JD Vance, then a senator, voted to approve her nomination.

Kevin Hassett, Trump’s chief economic adviser at the White House, alleged that the large jobs data revisions were poorly explained and were evidence enough for a “fresh set of eyes” at BLS. He sought to contradict Beach’s portrayal of the agency as politically neutral. 

“The bottom line is that there were people involved in creating these numbers,” Hassett said on NBC’s Meet the Press.

Read More: Trump Fires Labor Statistics Head, Prompting Concerns About Data

Pressed on whether Trump would fire anyone offering data he disagreed with, Hassett, who heads the National Economic Council, disagreed.

“No, absolutely not,” he said. “The president wants his own people there so that when we see the numbers, they’re more transparent and more reliable.”



Source link

Tags: chiefdatadecriesfiringJobssuccessorTrumps
ShareTweetShare
Previous Post

Iran’s currency has plunged so much in value that Tehran plans to chop off four zeros from the rial

Next Post

Apple CEO drops bombshell about its future

Related Posts

edit post
The U.S. cut cancer deaths by 34% since 1991—but not in 458 rural counties

The U.S. cut cancer deaths by 34% since 1991—but not in 458 rural counties

by TheAdviserMagazine
June 23, 2026
0

Cancer in the United States experienced a dramatic turnaround in 1991. Prior to that year, cancer deaths had been increasing...

edit post
Will Snap’s Augmented Reality Glasses Help or Hurt the Company?

Will Snap’s Augmented Reality Glasses Help or Hurt the Company?

by TheAdviserMagazine
June 23, 2026
0

Snap (NYSE: SNAP) is betting an expensive pair of glasses will turn its woeful stock around. The company unveiled SPECS...

edit post
The Human Trafficking Crisis Continues in America

The Human Trafficking Crisis Continues in America

by TheAdviserMagazine
June 23, 2026
0

Human trafficking remains a serious problem in the United States. While many people associate trafficking with foreign countries or dramatic...

edit post
SK hynix briefly tops Samsung as Korea’s most valuable company—and it’s eyeing a U.S. listing

SK hynix briefly tops Samsung as Korea’s most valuable company—and it’s eyeing a U.S. listing

by TheAdviserMagazine
June 23, 2026
0

For one day, at least, South Korea had a new most valuable company. SK hynix, one of the world’s largest...

edit post
Tower seeks to raise CEO Ellwanger’s compensation

Tower seeks to raise CEO Ellwanger’s compensation

by TheAdviserMagazine
June 23, 2026
0

Tower Semiconductor’s (TASE: TSEM; Nasdaq: TSEM) share price continues to climb, and in the past week the company’s market...

edit post
BIO 2026: Drug manufacturers band together to tackle employment challenges

BIO 2026: Drug manufacturers band together to tackle employment challenges

by TheAdviserMagazine
June 23, 2026
0

US-based drugmakers are meeting rising demand not by competing for local talent, but by collaborating through trade associations to support...

Next Post
edit post
Apple CEO drops bombshell about its future

Apple CEO drops bombshell about its future

edit post
Stock market today: Dow futures drop amid recession fears

Stock market today: Dow futures drop amid recession fears

  • Trending
  • Comments
  • Latest
edit post
Mass Fraud in Massachusetts Committed by Illegal Immigrants Discovered

Mass Fraud in Massachusetts Committed by Illegal Immigrants Discovered

June 22, 2026
edit post
New York Seniors: 6 STAR Tax Relief Rules That Could Put a Bigger Check in Your Mailbox

New York Seniors: 6 STAR Tax Relief Rules That Could Put a Bigger Check in Your Mailbox

June 20, 2026
edit post
5 Pennsylvania Rebate Rules Seniors Should Check Before the Property Tax/Rent Deadline

5 Pennsylvania Rebate Rules Seniors Should Check Before the Property Tax/Rent Deadline

June 18, 2026
edit post
Florida Roads Become a Battleground for Illegal Immigration

Florida Roads Become a Battleground for Illegal Immigration

June 9, 2026
edit post
Louisiana’s Age-Tiered Homestead Exemption: 8 Details About the Proposed 2028 Amendment

Louisiana’s Age-Tiered Homestead Exemption: 8 Details About the Proposed 2028 Amendment

June 15, 2026
edit post
The 8 States That Still Tax Social Security in 2026

The 8 States That Still Tax Social Security in 2026

June 6, 2026
edit post
Int’l students face cost, confusion and access barriers in English testing

Int’l students face cost, confusion and access barriers in English testing

0
edit post
Coffee Break: Armed Madhouse – Trust Destruction and Nuclear Roulette

Coffee Break: Armed Madhouse – Trust Destruction and Nuclear Roulette

0
edit post
Retirement Tax Planning Basics for Seniors 

Retirement Tax Planning Basics for Seniors 

0
edit post
Ripple Nears 30-Country Payments Rollout After Preliminary MiCA Approval

Ripple Nears 30-Country Payments Rollout After Preliminary MiCA Approval

0
edit post
SNAP Work Rules Now Apply to Adults 55-64—Why More Than 1 Million Older Americans Could Lose Food Assistance

SNAP Work Rules Now Apply to Adults 55-64—Why More Than 1 Million Older Americans Could Lose Food Assistance

0
edit post
History shows it has been a bumpy ride.

History shows it has been a bumpy ride.

0
edit post
SNAP Work Rules Now Apply to Adults 55-64—Why More Than 1 Million Older Americans Could Lose Food Assistance

SNAP Work Rules Now Apply to Adults 55-64—Why More Than 1 Million Older Americans Could Lose Food Assistance

June 23, 2026
edit post
Ripple Nears 30-Country Payments Rollout After Preliminary MiCA Approval

Ripple Nears 30-Country Payments Rollout After Preliminary MiCA Approval

June 23, 2026
edit post
Prediction market traders’ expectations for the NY primaries

Prediction market traders’ expectations for the NY primaries

June 23, 2026
edit post
Market Talk – June 23, 2026

Market Talk – June 23, 2026

June 23, 2026
edit post
Jack Henry (JKHY) Has a Core-Banking and Payments Workflow Engine Bigger Than a Regional-Bank Proxy Narrative

Jack Henry (JKHY) Has a Core-Banking and Payments Workflow Engine Bigger Than a Regional-Bank Proxy Narrative

June 23, 2026
edit post
Crypto isn’t the Problem with the US Economy, Says Senator

Crypto isn’t the Problem with the US Economy, Says Senator

June 23, 2026
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • SNAP Work Rules Now Apply to Adults 55-64—Why More Than 1 Million Older Americans Could Lose Food Assistance
  • Ripple Nears 30-Country Payments Rollout After Preliminary MiCA Approval
  • Prediction market traders’ expectations for the NY primaries
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.