Triumph

Washington (AP) – The United States labor market has gone healthy to Lethargic during the first seven months of President Donald Trump in the White House, since hiring has collapsed and inflation has begun to climb once again as his tariffs take over.

Friday’s job report showed that employers added only 22,000 jobs in August, since the unemployment rate increased up to 4.3%. Factories and construction companies show workers. The reviews showed that the economy lost 13,000 jobs in June, the first monthly losses since December 2020, during the COVID-19 pandemic.

The new data presented the wide gap between the booming economy that Trump promised and the most anemic reality of what he has managed to deliver so far. The White House is proud to operate at a dizzying speed, but now the American people are asking for patience, and Trump says that better work numbers could be one year away.

“We’re going to win as you’ve never seen,” Trump said Friday. “Wait until these factories begin to open that they are being built throughout the country, you will see that things happen in this country that nobody expects.”

The plea for patience has done little to comfort Americans, since the economic problems that had been a strength for Trump for a decade have become a persistent weakness. The approval of Trump’s economic leadership reached 56% in early 2020 during its first term, but that figure was 38% in July of this year, according to the surveys of the Public Affairs Research Center of News-NORC.

The situation has left Trump looking for others to blame, while Democrats say the problem begins and ends with him.

Trump held on Friday that the economy would add jobs if the president of the Federal Reserve, Jerome Powell, would have reduced the reference interest rates, although doing so to the extent that Trump wants could turn on a higher inflation. Investors await a rate trimmed by the Fed at their next meeting in September, although that is partly due to the weakening of work numbers.

The senate minority leader, Chuck Schumer, DN.Y., said Trump’s tariffs and free wheel policies were breaking the economy and the job report proved it.

“This is a red light warning to the whole country that Donald Trump is squeezing the life of our economy,” said Schumer.

According to many measures, Trump has become a hole in the economy, since his performance has not yet approached his exaggeration.

– Trump in 2024 suggested that deporting immigrants in the country illegally protect the “black works.” But the black unemployment rate has increased to 7.5%, the highest since October 2021, since the Trump administration has been involved in aggressive immigration repressions.

– In his announcement of April rates, Trump said: “The works and factories will return back to our country and it is already seen what happens.” Since April, manufacturers have reduced 42,000 jobs and builders have reduced by 8,000.

– Trump said in his inaugural speech that the “liquid gold” of oil would make the nation rich while turning the economy to fossil fuels. But the registration and mining sectors, which include oil and natural gas, have thrown 12,000 jobs since January. While gasoline prices are lower, the administration of energy information in August estimated that the production of crude oil, the source of richness promised by Trump, would fall next year by an average of 100,000 barrels per day.

– In 2024 Rallies, Trump promised to “end” inflation in the “first day” and reduce by half the prices of electricity within 12 months. Consumption prices have increased from an annual increase of 2.3% in April to 2.7% in July. Electricity costs increased 4.6% so far this year.

Trump’s White House argues that the economy is on the cusp of the growth of the breakup, with its new import taxes ready to raise hundreds of billions of dollars annually if they can resist judicial challenges.

At a dinner on Thursday night with executives and founders of companies such as Apple, Google, Microsoft, Openi and Meta, Trump said that the facilities that are being built to develop artificial intelligence would deliver “job numbers such as our country never before” at some point “a year from now on.”

Alex Wong through Getty Images

But Michael Strain, director of Economic Policy Studies of the American Enterprise Institute, said that Trump’s promise that strong employment growth is ahead contradicts his statements without the foundation that recent job data were falsified to embarrass him. That accusation led him to say goodbye to the Chief of the Office of Labor Statistics last month after the mass reviews in the July job report.

Strain said it is rational that the administration says that better times will arrive, but doing so seems to undermine Trump’s accusations that the numbers are manipulated.

“The president clearly declared that the data were not reliable and that the weakness in the data was the product of anti-trump manipulation,” Straver said. “And if that is true, what are we being patient?”

The White House said that Friday’s job report was an atypical case in one economy in another way.

Kevin Hasett, director of the National Economic Council of the White House, said that the Atlanta Federal Reserve awaits an annualized growth of 3% this quarter, which according to him would be more consistent with monthly labor profits of 100,000.

Hasset said that inflation is low, income growth is “solid” and new investments in assets such as buildings and equipment will finally increase hiring.

But Daniel Hornung, who was deputy director of the National Economic Council in the White House of Biden, said he did not see evidence of an upcoming rebound in August job data.

“Fairly weakening,” said Hornung. “The decrease for three months in products producing products, such as construction and manufacturing, is particularly notable. There was already wind against there and tariffs probably exacerbate challenges.”

Stephen Moore, a member of the economy of the president’s conservative heritage and supporter, said the labor market “is definitely softened”, even when Trump’s statements echoed that job numbers are not reliable.

He said the economy was adjusting to Trump change of higher rates and immigration reductions that could reduce the group of workers available.

“The problem in the future is a shortage or workers, not a shortage of jobs,” Moore said. “Somehow, that is a good problem.”

But the political consultant and pollster Frank Luntz took the opposite vision that the job report will not ultimately import Trump’s political fortune and his movement because voters care more about inflation and affording.

“That is what the public is seeing, that’s what matters to the public,” Luntz said. “Everyone who wants a job has a job, for the most part.”

From the perspective of the elections, Trump still has approximately one year to demonstrate progress in improving affordability, Luntz said. Voters will generally enclose their opinions about the economy on Labor Day before the middle of the period next year.

In other words, Trump still has time.

“It’s still at stake,” he said. “The decisive point will come on Labor Day of 2026”.