Trump Official Says US Doesn't Need as Many Jobs—Here's Why
Bessent said deportations and lower immigration have reduced the workforce, after federal data showed the economy lost 23,000 jobs last month.
- On Thursday, Treasury Secretary Scott Bessent told CNBC that recent U.S. job losses are not concerning, asserting that mass deportations mean "we don't need to produce as many jobs" because roles are going to Americans.
- Federal data reported this month showed the U.S. lost 23,000 jobs in July, while payroll estimates for May and June were revised downward by a combined 103,000 jobs, suggesting hiring was weaker than previously believed.
- Stuart Anderson of the National Foundation for American Policy and Dean Baker, senior economist at the Center for Economic and Policy Research, challenged the administration's rationale, arguing that "expelling workers... reduces economic dynamism" and that the economy has lost 75,000 manufacturing jobs since the start of the second term.
- Economist Tony Yates noted that Bessent's spin undermines the administration's previous claim that migrants were "stealing jobs," while social media users labeled the explanation "insane and desperate," pointing out the economy is slowing regardless.
- Projections by the Social Security Trustees suggest labor-force growth will remain historically weak due to an aging population, complicating the administration's strategy of relying on reduced immigration to manage the national labor market.
18 Articles
18 Articles
Los Angeles (USA), 20 (EFE).- The U.S. does not need to "generate so many jobs" due to the massive deportation strategy of President Donald Trump's government, which is making Americans fill the vacant posts left by those expelled, said Thursday Treasury Secretary Scott Bessent, statements that were criticized by experts.The secretary made the comments this Thursday in an interview with CNBC about the country's economy and the possible weakening…
'Unbearably dumb': Trump official raked over the coals for 'putrid' job growth claim
President Donald Trump's Treasury Secretary Scott Bessent was confronted with the latest underperforming jobs numbers on CNBC Thursday — and tried to put a spin on why it no longer even matters how bad America's job creation is."After the deportations that we've seen and the closing of the border, we don't need to produce as many jobs," Bessent explained.But this excuse landed with a thud among commenters on social media — many of whom pointed o…
Proceso Digital
robertocavada.comThe U.S. doesn’t need to “generate so many jobs” due to the massive deportation strategy of President Donald Trump’s government, which is making Americans fill the vacant posts left by those expelled, Treasury Secretary Scott Bessent said Thursday, statements that were criticized by experts. The U.S. entry “doesn’t need to generate so many jobs” after Trump’s deportations, says Bessent was first published in Digital Process.
Telemundo Dallas (39)
The U.S. doesn't need to "generate so many jobs" due to the massive deportation strategy of President Donald Trump's government, which is making Americans fill the vacant posts left by those expelled, Treasury Secretary Scott Bessent said Thursday, statements that were criticized by experts.
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