President Donald Trump’s prime safety adviser Kevin Hassett tried to place a rosy spin on a Labor Department report which discovered the variety of layoffs throughout the U.S. at their highest quantity in two years, together with continued uncertainty over the economic system.
Hassett, who chairs the White Home Nationwide Financial Council, appeared on Fox News’ “The Ingraham Angle” Tuesday, the place he urged the figures within the report appeared grimmer than the fact on account of “an issue with the best way the surveys work,” in addition to this fall’s record-breaking government shutdown.
“We nonetheless should get, like, the federal government knowledge that we misplaced due to the shutdown,” he stated. “One of many issues we’re seeing is that payroll surveys, the place they name up companies and say, ‘Hey, how many individuals do you may have working for you?’ that they’re displaying a lot decrease progress than family surveys the place we ask individuals, ‘Do you may have a job?’”
Chip Somodevilla by way of Getty Pictures
“And so it may very well be that what’s happening proper now’s that there’s an issue with the best way the surveys work,” he continued. “I’ll have the ability to speak to you in per week or so once we lastly get the information we have to assess that. However the backside line is that GDP progress is 4% proper now and accelerating into subsequent yr with all of the capital spending we’re seeing, and there’s by no means actually ever in my reminiscence, going all the best way again to World Conflict II … has there been progress that top with out job creation.”
The Job Openings and Labor Turnover Survey, printed by the Labor Division Tuesday, discovered that the number of layoffs across the U.S. rose to 1.9 million ― the best determine since January 2023 ― in October. Although the variety of job openings rose barely from 7.66 to 7.67 million, the report additionally discovered a big drop within the variety of individuals quitting their jobs, usually cited as a barometer of confidence within the labor market.
Hassett — who in 2024 had belongings price not less than $7.6 million, according to Bloomberg ― is extensively reported to be Trump’s prime choose for the following Federal Reserve chair.
Elsewhere in his chat with Ingraham, Hassett tried to shift a lot of the blame for the present financial issues to Democrats and particularly former President Joe Biden.
“The very fact is that Joe Biden dug an enormous gap, and we’re filling the outlet actually quick,” he stated. “So what’s going to occur is individuals are going to look of their wallets they usually’re going to grasp how good Trump has been for the economic system, as they did in 2019 as properly.”
As for headlines within the “liberal media” which point out that voters have misplaced confidence in Trump’s dealing with of the economic system, he famous, “That’s due to the Democrats’ shutdown.”
