Small font size A Larger text size A Largest text size A

Trump fires US Labor Department's statistical leader after weaker than expected jobs report

BY Reuters | ECONOMIC | 08/01/25 02:29 PM EDT

WASHINGTON (Reuters) -U.S President Donald Trump on Friday ordered that the commissioner of the U.S. Bureau of Labor Statistics, Erika L. McEntarfer, be fired after data showed employment growth was weaker than expected last month.

McEntarfer was nominated by former President Joe Biden to serve in the role in 2023 and was confirmed by the U.S. Senate the following year.

"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," Trump said in a post on Truth Social.

(Reporting by Jasper Ward; Editing by Chris Reese)

More Fixed Income News

Fed?s Hammack tilts hawkish on rates, questions CPI drop as distorted BY Coindesk |ECONOMIC 10:11 AM EST
Wall St Week Ahead-A Santa rally? Investors hope for year-end gains to cap strong 2025 BY Reuters |ECONOMIC 09:00 AM EST
Fed's Hammack signals holding rates steady for months, WSJ reports BY Reuters |CORPORATE 06:48 AM EST
Trump appointee inspired by conservative media outlet to push for probe of Democratic congressman BY Reuters |AGENCY 12/20/25 01:39 PM EST

All Fixed Income News

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article