Trump to END Job Reports after Bad Numbers [BLS Changes]

Well, Donald Trump is now looking to

replace the person he fired at the

Bureau of Labor Statistics when we got

those job numbers on August 1st, which

of course was a very disappointing

number set for Donald Trump as it

revised two months of previously strong

jobs data in May and June to virtually

no growth and did give us a quote

unquote rebound of growth in July with

just 74,000 jobs. But then of course

when you average the three months

together, we've got a very very low

number for job growth. And so Donald

Trump fired the head of the Bureau of

Labor Statistics suggesting that they

were either politically biased, his

cabinet at least uh suggested that

either the head of the BLS was

politically biased, which therefore they

should be fired. And if they're not

politically biased, then they just suck

at collecting data and therefore they

should be fired. When you merge that

together, initially when you hear it

from the Trump admin, it's kind of like,

all right, yeah, if they suck at data

and their job is data, then they should

be fired. And if they're political, but

they're good at data, then they should

be fired because they're political. It

kind of makes sense. And of course, we

made a video talking about how how many

delays there are in BLS reporting data,

mostly because of the delays in

companies reporting uh payrolled

employees or not. And so now there is

reporting out according to Bloomberg and

Fox News that apparently

Trump's pick to quote lead the Bureau of

Labor Statistics could pause monthly

jobs reports over accuracy concerns

which is now very interesting because

basically hey you know if we're going to

have to revise the numbers all time why

don't we just stop reporting the numbers

alto together? You know what? It's kind

of like when unemployment gets really

bad in China for people under 18 years

old. So, basically like 16, 17, 18 years

old. So, youth unemployment. Uh, let's

just stop reporting the data because,

you know, we don't want to see that bad

data. That's gross. That's ill. Uh EJ

Antoni, President Trump's pick to lead

the Bureau of Labor Statistics, has

suggested suspending the AY's monthly

jobs reports. If only had the monthly

first Friday of every month's jobs

report numbers uh for decades uh and uh

we've become used to adjusting for the

fact that there will be revisions.

Usually we look at the numbers and take

them with a grain of salt. And it's one

of the reasons why we say, "Hey, as long

as they come in over 50,000, it's not

recessionary because once you start

coming in under 50,000, you're going to

revise away those jobs and you're

actually losing jobs, which is

recessionary."

Well, so like the market has already

taken a lot of these job numbers with a

grain of salt. But now apparently Donald

Trump's pick to lead the agency is just

going to completely remove the data

because they don't like being wrong. Uh

you know I I mean I'm not always right

either. Like this morning you know we

thought there was a chance we could see

a continuation of uh Tesla. Uh we didn't

think it would break through 347 but we

did think it would magnet through a

little bit more. You know yesterday we

creates

going from 333 up to 347. I thought it

would take 48 hours. It happened very

very quickly on a trade here. Uh but uh

you know, you can't always be perfect.

You know, today obviously we Tesla lost

the magnet. Though a lot of this has to

do with Trump's insanity around

potentially suing or enabling a lawsuit

or even the arresting of Jerome Powell,

which is just mindblowing. And this is

sort of what set off Tesla, though it's

nicely recovering now and it'll probably

come back to 347 soon. instead one uh

you know that uh that we you know we we

called correctly was circle here because

we said that in order for you to play

momentum on this you have to confirm it

for the first five minutes. So the first

five minutes on non-verage candlesticks

we need to confirm the 18287 line

otherwise that momentum is not going to

continue. If we bounce off of this hey

could be off to the races right but

losing 18287 is your test. Take a look

at this. By the fourth minute, you have

a collapsing candlestick right through.

This is why it's so important and why I

always advocate watch those candles the

first five minutes because you just

never know how that trading day is going

to begin. People usually get impatient.

They try to rush to make trades.

Something really to pay attention to in

my opinion. Oo, Tesla going green again.

Looks like we'll be coming back uh to

that 3 uh 347 pretty soon here. Nice.

But anyway, uh things to watch and and

things that we regularly talk about and

strategize in the alpha report. It's

more than just, oh, this is going up

today. It's here's how you could learn

how to fish. Here are the lines to pay

attention to. Here are the strategies to

consider. Uh so, if you want to be a

part of that, make sure you grab the

alpha report. You get lifetime access.

You get all those insights over at

mekevin.com. Use coupon code JPAL. Uh

sorry, Jhole. But anyway, continuing.

Take a look at this. In an interview on

Fox Business before Trump nominated him

on Monday, Antony said, "Businesses

can't plan and the Federal Reserve can't

conduct monetary policy when the monthly

report is unreliable and frequently

overstated and thus misleading." Well,

then again, even though it's frequently

misstated, we we already discount for

that. Until it's corrected, the BLS

should suspend issuing monthly jobs

reports, but keep publishing the more

accurate, though less timely quarterly

data. Wow. quarterly jobs data as

opposed to monthly. That

put put everything into even more

darkness because remember we're also

looking for a change. That's the beauty

about that monthly data is you average

it out and you look for a change in that

trajectory. If you know one month we're

going negative 150,000 jobs, we'd rather

know that you know in month one than

have to wait an extra two or three

months to to get this data. major

decision makers rely on these numbers

and a lack of the con uh confidence of

this. It It seems like the

administration's doing everything in

their power just to keep like this

economy going even though it's so badly

wants to slow down. Let's just let's

just cover up the fact that it's slowing

down. If confirmed by the Senate,

Antonia would replace uh the person that

was fired by Trump

and Trump accused her of man of

manipulating the data for political

reasons or you know also the other thing

that the cabinet said was that they

would um

you know it's either political or just

bad data collection. Do they have a

video here of Anton or no? Oh well they

have an ad is what they have. Okay. Uh

the economist tapped by Trump to lead

the BLS suggests that the agency's

closely watched monthly jobs report

uh and assumptions were fundamentally

flawed. In an interview with Fox

Business ahead of the nomination

announcement, Antonio criticized the

data behind the report is unreliable.

How on earth are businesses supposed to

plan? Okay, so uh Anton Heritage

Foundation's chief economist must face

Senate confirmation before uh joining

the top of the BLS. But uh our economy

is booming and EJ will ensure the

numbers are honest and accurate. Trump

wrote on August 12th announcing Antony's

nomination. I know Anton will do an

incredible job in his new role.

Congratulations.

Wow. All right. Well, and then Kevin

Roberts, president of the Heritage

Foundation, calls Anton a stellar

choice. Uh they're all uh recommended.

In my opinion, today's job numbers were

rigged in order to make the Republicans

and me look bad. Trump wrote on August

1st. That's when the last data came out.

Uh Anton Tony told Fox that he doesn't

believe the jobs data was intentionally

manipulated as some have suggested, but

instead argues that persistent flaws in

the methodology have gone un uh

unressed. He pointed to a declining

response rate now below 50% as a key

factor contributing to the inaccuracy,

saying no one in a position of power

fixed the problems in the data. Right.

Well, I mean, this is where, you know,

you have to find a way to motivate

businesses and people to actually

respond to these surveys more rapidly.

And also keeping in mind that if you're

going to release data on the first of

the month for the prior month, how do

you actually expect to get surveys back

that went out at the end of July? You

know, you might get the surveys back

from the beginning of July, the month

before, but how are you going to get

those surveys back at the end? You you'd

have to have like a 24-hour response

time and then time to tabulate it all.

It's it's really just impossible. So, I

mean, I could see the argument being set

up for delaying these jobs reports

uh to basically a quarterly reporting

set, but really what it'll just do is

it'll just mask weakness in the labor

market. And if we get a bad labor report

one quarter, you know, we won't get

confidence that we're coming out of a

bad labor report for that much longer,

right? It cuts both ways. Like if you

know if you get monthly data that shows

a weakening, you get an earlier heads

up. But if you get one bad read and then

it's three months before you get the

next one, you suffer that pain much

longer than you would otherwise if you

got more data more rapidly. So I'm not

sure how convinced I feel about this

idea of, oh yeah, let's delay and hide

data. Uh I think ultimately that'll

cause more problems than it'll help. But

uh I'm not um uh you know I I'm not

opposed to some maybe even like you know

move the jobs report maybe from the

beginning of the month to like the

middle of the month, right? That could

potentially be reasonable. Three every 3

months though that seems crazy and it

almost feels like uh it's it's being

done on purpose to sort of cover up a

slowing economy. That might be the jaded

way to look at it is oh we we don't want

to see the impacts of the tariffs. Let's

just let's just hide them for as long as

possible. And you know what can we do

to, you know, cover cover it up. Uh

let's fire the BLS chief and say they're

being political. That'll help us

distract from the Epstein files.

>> Why not advertise these things that you

told us here? I feel like nobody else

knows about this.

>> We'll we'll try a little advertising and

see how it goes.

>> Congratulations, man. You have done so

much. People love you. People look up to

you.

>> Kevin Pra there, financial analyst and

YouTuber. Meet Kevin. Always great to

get your take.