Business

Trump Goon’s Economy Boast Blows Up in His Face

Trump Goon’s Economy Boast Blows Up in His Face

Treasury Secretary Scott Bessent was instantly fact-checked after he crowed about a September jobs report delivered by the Bureau of Labor Statistics.

“America’s economy continues to defy expectations. 119,000 new jobs in September — the strongest gain since April,” posted Bessent on X.

“The American worker is resilient, and our America First policies are driving a comeback built on strength, jobs, and opportunity.”

America’s economy continues to defy expectations. 119,000 new jobs in September — the strongest gain since April. The American worker is resilient, and our America First policies are driving a comeback built on strength, jobs, and opportunity. pic.twitter.com/LRMp27kw5H

Though an increase of 119,000 jobs in one month sounds good, critics quickly identified troubling numbers behind the boast.

“Look at the breakdown. About 70 percent of the job gains came from healthcare and restaurants. A lot of industries are still shedding jobs,” wrote Heather Long, Chief Economist for Navy Federal Credit Union.

“Bottom line: The economy added an average of 44k jobs a month for the past 4 months. That’s barely ‘treading water’ and explains why unemployment is now 4.4%,” she added.

119,000 jobs added in September.But look at the breakdown. About 70% of the job gains came from health care and restaurants. **A lot of industries are still shedding jobs**Hospitality: +47,000Healthcare: +43,000 (37k was restaurants)Construction: +19,000State gov't:… pic.twitter.com/3Qge692107

The BLS’s September report, published Thursday morning after a seven-week delay caused by the government shutdown, states that while “nonfarm payroll employment edged up by 119,000 in September,” the figure “has shown little change since April.”

It also reports that while gains were made in healthcare, food services and drinking places, and social assistance, “job losses occurred in transportation and warehousing and in federal government.”