Economists Sound Alarm Over Trump Nominee to Lead Jobs Bureau

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Economists express concerns that President Donald Trump’s nominee to lead the Bureau of Labor Statistics (BLS) may undermine the credibility of key economic data, potentially leading to political interference in national economic reporting.

Earlier this month, Trump abruptly fired former BLS Commissioner Erika McEntarfer following the release of the July jobs report, which showed hiring slowed sharply. President Trump criticized the report as “phony,” alleging that the Biden-appointed official manipulated statistics to influence the 2024 election in favor of Vice President Kamala Harris.

The White House has nominated E.J. Antoni, chief economist at the conservative Heritage Foundation, to lead the agency. President Trump commended Antoni for his commitment to “honest and accurate” data; however, critics point to his previous work as evidence of significant errors and partisan bias.

Numerous respected economists have publicly expressed concerns. Stan Veuger, senior fellow at the American Enterprise Institute, criticized Antoni’s published work for containing “elementary errors” and “nonsensical choices” that consistently reflected a partisan perspective.

Jessica Riedl of the Manhattan Institute concurred, labeling Antoni’s writings as “the most error-filled of any think tank economist currently.” Daniel Di Martino, an economist at the Manhattan Institute, also criticized Antoni for disseminating inaccuracies, referencing a 2024 post where Antoni asserted that unemployment rates were artificially reduced.

Dave Herbert of the American Institute for Economic Research took a stronger stance, questioning Antoni’s fundamental grasp of economics. “I’ve participated in several programs with him and have been struck by two things: his lack of understanding of basic economics and the rapidity with which he’s aligned with MAGA,” Herbert remarked.

In an unprecedented step, the White House confirmed that the release of monthly jobs reports will be temporarily halted while the BLS “adjusts methodologies” under Antoni’s forthcoming leadership. Antoni has proposed that the bureau discontinue monthly data releases and switch to quarterly figures, which he contends are more accurate, albeit less timely.

This suspension has raised concerns among economists and investors. Monthly payroll and unemployment figures are among the most scrutinized economic indicators in the United States, influencing interest rate policy, market forecasts, and investment decisions.

“The risk is that if the BLS is perceived as politically compromised, markets may disregard its data entirely,” a Wall Street analyst informed Axios. “This impacts the valuation of trillions in assets, from stocks to retirement accounts.”

The July jobs report, which led to Trump’s decision to dismiss McEntarfer, revealed non-farm payrolls increasing by only 73,000, significantly below the anticipated 100,000. The unemployment rate rose to 4.2 percent, with May and June figures revised downward by a total of 258,000 jobs.

Economists caution that eroding confidence in this data could have widespread effects on financial markets, retirement savings, and government policymaking. “If investors suspect the numbers are manipulated, the credibility of the U.S. economic system is at risk,” Herbert stated.

Antoni’s nomination awaits Senate approval, where a contentious debate is anticipated. Currently, the credibility of America’s official economic data custodian is uncertain.