Author: Marketplace

President Trump’s firing of the Bureau of Labor Statistics commissioner is not without international precedent. Other countries have gone down the path of meddling with economic data for political gain. We’ll get into lessons we can take from the rest of the world. And, can the U.S. continue to be a bastion of scientific research in the wake of deep federal funding cuts? Plus, we’ll celebrate one listener’s feat of digitizing years of her great grandmother’s diaries.

Here’s everything we talked about today:

• "Every Scientific Empire Comes to an End" from The Atlantic 
• "Trump to Name New Fed Governor, Jobs Data Head in Coming Days" from Bloomberg
• "Trump Fired America’s Economic Data Collector. History Shows the Perils." from The New York Times

• Thread on X from Lulu Garcia Navarro

  
  

  We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email makemesmart@marketplace.org.

President Trump fired the top Bureau of Labor Statistics official on Friday, after the agency issued a weak jobs report. The report also revised earlier estimates of job creation in May and June down by 258,000. The president claimed the numbers were being manipulated. Julia Coronado, founder and president of Macropolicy Perspectives and a professor at UT Austin, joins us to discuss. Also on the show: how Trump's tariffs could sink Lesotho's textile industry.

On Friday, the Bureau of Labor Statistics reported that job creation in the U.S. was much lower than expected in July, and revised down its numbers for May and June, reporting there were 258,000 fewer jobs created in those months than initially estimated. President Trump, upset about the revisions, then proceeded to fire the head of that Bureau. The president now says he'll name a replacement in the coming days. Plus, why the manufacturing sector is struggling and how storm-chasing scientists are working to unlock the mysteries of hail.

From the BBC World Service: The U.S. has warned India of an "unspecified penalty" for buying Russian oil and weapons, which Deputy White House Chief of Staff Stephen Miller says could take India's tariff rate to as much as 100%. For years, the economy of the tiny African kingdom of Lesotho has struggled, with claims of corruption and soaring unemployment; it’s now been hit with 15% U.S. tariffs — less than the 50% they were facing, but still a huge blow.

As autonomous vehicles become more common, cities are grappling with how to keep robotaxis from interfering with emergency response efforts. Julia Pickar reports on how Seattle is trying to fix this problem.

The Bureau of Labor Statistic’s July jobs report came in far below expectations. May and June’s counts were also revised down significantly. What’s a president — one who’s championed contentious economic policies — to do? Fire the BLS chief, apparently. In this episode, what happens if President Donald Trump turns federal data collection into a partisan tool. Plus: Medium-sized companies are hit hardest by tariffs and digital price labels are coming to a grocery store near you.

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Following a weaker than expected jobs report today, President Trump said he’ll fire the head of the Bureau of Labor Statistics, claiming the data was rigged. It’s an unprecedented move with potentially enormous consequences for our understanding of the U.S. economy. We’ll explain. And, we’ll get into how Trump’s tariffs are destabilizing economies across globe. Plus, we’ll weigh in on tariff “rebates” and pricier desserts during a round of Half Full/Half Empty!

Here’s everything we talked about today:

• "The full list of Trump’s tariffs – from India to Taiwan" from The Guardian 
• "‘There’s no work now, just debt’: Cambodian garment workers face precarious future as US tariffs loom" from The Guardian 
• "Tariffs Bring Disaster In Lesotho, the Country That Trump Says Nobody’s Heard Of" from The Wall Street Journal 
• "85 percent of parents worry about tariffs affecting back-to-school cost: Survey" from The Hill 
• "Trump fires commissioner of labor statistics after weaker-than-expected jobs figures slam markets" from CNBC
• "Big Downward Jobs Revisions Could Be a Warning Sign for the Economy" The New York Times
• "Private equity tees up to invest in youth sports" from Marketplace
• "NYC’s Luxury Dessert Scene Is Booming and Higher Priced Than Ever" from Eater
• "Subscription-based children's magazines are revitalizing the genre" from Marketplace
• "GOP senators reject Trump’s pitch to use tariff revenue for ‘rebates’" from The Washington Post

We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email makemesmart@marketplace.org.

On Friday, job growth figures from earlier months were revised sharply downward: May's gain was cut from 125,000 to just 19,000, and June's total from 147,000 to only 14,000. Today, we're told there were 73,000 more jobs in July, but might that number also get revised down? Also on the show: are President Trump's new tariffs legal? Jess Bravin listened as a federal appeals court panel heard the arguments on Thursday, and he joins us to discuss. Plus, Minneapolis bans discrimination based on body size.

The Trump administration set August 1 as the deadline for countries to strike new trade agreements with the U.S. Some met the deadline, and others did not. The administration says it's about trading away some efficiency in commerce for a new trade system that is "fair and balanced." Mentioned less often is the role tariffs play in raising taxes to fund government spending. Plus, what is the difference between fine art and the art market? Art critic Blake Gopnik joins us to discuss the evolving world of art and commerce.

From the BBC World Service: President Trump’s long-delayed tariff deadline has finally passed and for countries without a deal, the import taxes are steep — the highest in almost a century. But some countries, including Thailand, are breathing a sigh of relief that the revised duties aren’t as high as feared. Meanwhile, automakers are already counting the cost of tariffs which were imposed on vehicles and vehicle parts earlier in the process.