BlockBeats News, August 4: U.S. President Trump: Will announce a new head of the Bureau of Labor Statistics in the next three to four days.
On Friday, Trump ordered the dismissal of the head of the Bureau of Labor Statistics (the agency that releases non-farm payroll data), after he claimed without evidence that the disappointing employment data was 'manipulated.' The agency later confirmed that Director Erika McEntarfer was fired, and her deputy, William Wiatrowski, will serve as acting director. The July employment report released earlier on Friday showed that only 73,000 jobs were added last month. The Bureau of Labor Statistics also announced significant data revisions, showing that the number of jobs was a total of 258,000 less than previously believed. This is the second-largest downward revision over two months on record, surpassed only by adjustments made during the pandemic.