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Fox Panel Loses It at Jaw-Droppingly Bad Sign for Trump
The Daily Beast • • general
Key Points:
- The September jobs report showed only 29,000 jobs added, far below the expected 90,000, and the unemployment rate rose from 4.1% to 4.2%, signaling a significant economic slowdown just ahead of the midterm elections.
- Fox Business panelists expressed concern that this weak data likely ends the possibility of a Federal Reserve interest rate hike in October, as the labor market no longer supports such a move.
- Some panel contributors attempted to highlight positives, noting nearly a million private-sector jobs added over two months and ongoing private-sector growth despite the disappointing headline numbers.
- Average earnings growth slowed considerably, raising worries about inflation pressures since wages are not keeping pace with rising costs like gasoline prices.
- In response, the White House emphasized private-sector job gains and manufacturing growth, framing the data as evidence of President Trump’s successful economic policies despite the rising unemployment rate.
