Former President Claims 1.5 Million Jobs Overestimated by Previous Administration

The of the United States convened a press conference at the White House to present a series of charts aimed at demonstrating the robust growth of the American economy. This event came just days after the had publicly criticized the Bureau of Labor Statistics over the recent non-farm payroll report, which he deemed unsatisfactory.

The charts presented were backed by data from a conservative think tank. The economist who presented the data, a senior visiting fellow at the think tank, emphasized the 's economic achievements during his tenure. He also criticized the economic performance during the previous administration, asserting that the job growth figures for the last two years of the previous administration were overestimated by 1.5 million jobs.

The , standing beside the economist, frequently interjected to express his agreement with the presented data. The economist, a long-time supporter of the , had previously served as a senior economic advisor during the 's 2016 campaign and had advocated for the economic prosperity brought about by the 's policies during his first term. The had also nominated the economist to serve on the Federal Reserve Board, although the nomination was later withdrawn due to opposition in the Senate.

The 's actions were seen as an attempt to convey a message of economic strength to the public. Despite the recent stability in the stock market, data from the Bureau of Labor Statistics indicated that job growth had slowed significantly under the pressure of tariffs imposed by the . Inflationary pressures also appeared to be rising.

The economist claimed that he had called the to share data showing that the decision to dismiss the Bureau of Labor Statistics director was justified. He asserted that the Bureau had overestimated job creation figures during the previous administration. However, the economist did not provide statistical evidence to support his claims, and the expressed his belief that the overestimation was intentional.

The economist further stated that during the first five months of the 's second term, the average household income, adjusted for inflation, had increased by 1,174 dollars. However, this figure was based on unpublished data from the Census Bureau, making it difficult for reporters to independently verify.

The expressed disbelief at the figure, stating that if he had previously announced such data, it would have been met with skepticism. The economist's claims were met with scrutiny, as the data he presented was not publicly available for verification.

The Bureau of Labor Statistics reported that from January to July, employers had added 597,000 jobs, a 44% decrease compared to the same period in 2024. The July non-farm payroll report showed that only 73,000 jobs were added in the previous month, with downward revisions to the job totals for May and June amounting to 258,000 jobs.

While the previous administration also faced downward revisions in job data, the economy added 2 million and 2.6 million jobs in 2024 and 2023, respectively, with an average monthly increase significantly higher than during the 's first term. The primary economic challenge faced by the previous administration was inflation, with the Consumer Price Index (CPI) reaching a 40-year high in June 2022. This inflationary pressure made it difficult for many households to afford essential goods and services, contributing to the 's return to the White House in the 2024 election.

However, there are indications that inflation is rising again due to the 's tariff policies. It is anticipated that the upcoming July inflation report will show a 3% increase in the CPI over the past 12 months, up from 2.3% in April.